John Cherry III – Conversion of Client Funds, Fraud and Misrepresentation Boca Raton, Florida FINRA Arbitration Attorney

John Cherry III – Conversion of Client Funds, Fraud and Misrepresentation Boca Raton, Florida FINRA Arbitration Attorney:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

Broker Check:

John Cherry III (CRD #1891720, New York, New York) was barred from association with any FINRA member in any capacity and ordered to pay $138,235.38 in restitution and $300,000 in disgorgement, along with prejudgment interest on both amounts. The NAC imposed these sanctions following an appeal of an OHO decision. Cherry appealed this matter to the SEC but later withdrew his application. The sanctions are based on findings that Cherry converted $474,000 in customers’ funds to purchase a house without the customers’ knowledge or authorization. At Cherry’s direction, the customers transferred their funds to a company Cherry owned and controlled for the purpose of investing in securities.  Rather than investing the funds in securities as the customers had directed, Cherry used the funds to purchase the house in which he and his wife were living.  To review the release, please follow the above link.

 Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Contact Information