South Florida Arbitration & Litigation Lawyer Blog
Stock Broker Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
January, 2012:
Thomas Thanh Doan (CRD #4511950, Registered Representative, Honolulu, Hawaii) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Doan converted and misappropriated funds. The findings stated that Doan submitted fraudulent invoices to his member firm’s parent company for reimbursement of expenses he had never actually incurred. Doan requested reimbursement of expenses to rent a conference room in a condominium complex. Each of the reimbursement requests were supported by an invoice and appeared to be issued by the condominium complex, but the name of the condominium complex was misspelled on each invoice. The findings also stated that Doan stamped the invoices “paid” and wrote the date of the invoice over the “paid” notation. As a result of his submission of the invoices to the affiliate, Doan received reimbursement from the affiliate for invoices totaling $2,250. Doan did not receive reimbursement for expenses sought in regard to another invoice because the parent company refused to make the requested payment to Doan after discovering that the invoice was not issued by the condominium complex. (FINRA Case #2009019637001).