John Jumper, a former Memphis, Tennessee-based broker-dealer has been indicted on federal charges of embezzling $5.7 million from a Pennsylvania company’s employee pension fund. Federal prosecutors in Williamsport, Pennsylvania and securities regulators in Atlanta jointly issued news releases announcing charges against him. The criminal indictment in the state accuses John Jumper of forging signatures on fraudulent documents to transfer money out of the pension fund. It alleges he used the money to make unauthorized loans and to pay off $1.2 million in personal loans and legal expenses. Allegedly, John Jumper stole from the Snow Shoe Refractories Employee Pension Plan for Hourly Employees, which included about 129 active and retired employees of a maker of fire brick, Snow Shoe Refractories. John Jumper was indicted on four counts of wire fraud, three counts of embezzlement from an employee pension benefit plan and five counts of false statements and concealment of facts in pension benefit plan records. Jumper allegedly funneled $3 million from the fun into American Tubing Arkansas, an air-conditioning parts maker. He could face up to 65 years in prison if convicted on the criminal charges.
John Jumper, according to his online BrokerCheck report with the Financial Industry Regulatory Authority (FINRA), was previously registered with Duncan-Williams, Coastal Securities, Penson Financial Services, Samco Capital Markets and Alluvion Securities in Memphis, Tennessee from September 2007 until February 2017. He has four regulatory matters against him and two judgments/liens. He has been permanently barred from acting as a broker or otherwise associating with a broker-dealer firm. Please call our securities laws offices today if you suffered losses with John Jumper. We may be able to help you reclaim those losses on a contingency fee basis.
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