Stoltmann Law Offices is investigating Rushton L. Adrey, a former broker with Wells Fargo. He recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). In 1995, Adrey entered into another AWC with NASD in which he was censured, fined $20,000 and suspended for 60 days for effecting a series of end-of-day transactions in an attempt to affect the closing price of securities. He is currently under Heightened Supervision imposed by the Massachusetts Securities Division. Recently, on August 22, 2012, Adrey caused a wire of $33,000 to be sent from his personal bank account to that of a customer to reimburse that customer for losses sustained in her account. His firm, Wells Fargo, did not approve of this transaction, nor did he receive prior written authorization. For this, Adrey was suspended from the industry for 10 days.
If you invested money with Rushton L. Adrey, his former firm, Wells Fargo, can be sued in the FINRA arbitration process to recover money losses. We are securities attorneys who sue firms such as Wells Fargo for not properly supervising brokers such as Adrey. The call is free with no obligation. We are based in Chicago, Illinois. 312-332-4200.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.