Published On: December 3, 2015

Stoltmann Law Offices is investigating John Michael Leone, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Leone is accused of “attempting to transfer client funds to himself without authorization.” Allegedly, Leone was responsible for resolving operational issues, providing customer service support and facilitating funds transfers, among other tasks. Leone had access to systems that enabled him to view customer account information. He was terminated from Merrill Lynch because of it. According to his AWC, on April 16, 2015, Leone used his login credentials to remotely access firm systems for the purposes of initiating an unauthorized transfer of funds from a firm customer account to his personal firm account. He initiated a transfer of $4,500 from the firm account of a customer without his knowledge or authorization. For this, he was barred from the industry by FINRA.

Leone was registered with Merrill Lynch in New York, New York from January 2002 until April 2003, Citigroup Global Markets in Boston, Massachusetts from April 2003 until May 2006, Raymond James in Burlington, Massachusetts from May 2006 until August 2008 and Mid-Market Securities in Canton, Massachusetts from September 2010 until May 2012. He is currently registered with Stillpoint Capital in Tampa, Florida and has been since February 2014. If you invested money with John Michael Leone, please call our securities law offices in Chicago to speak to an attorney. The call is free with no obligation. We sue firms such as Merrill Lynch to recover money for investors.

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