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The law firm of Oakes & Fosher is currently investigating the possible misconduct of former securities broker Bernard Parker.

Bernard Parker was a Pennsylvania based securities broker. He worked in the securities industry for twenty-four years. During his career, he was registered with four different securities firms.

His Registrations

  • First American National Securities (1989-1990)
  • North American Management (1991-1993)
  • Beaconsfield Financial Services (1993-2006)
  • Edward Jones (2006-2014)

The Allegations

Bernard Parker’s publicly available FINRA BrokerCheck report shows that he received a complaint in March 2015 from a customer alleging that converted their funds for his own personal use. Due to these allegations, he was later found guilty of mail fraud and securities fraud.

What Does This Mean?

A securities broker converting funds into their personal bank accounts is one example of misappropriation, which essentially is the same thing as theft. A misappropriation of funds is when a securities broker misuses the funds from one agreed upon purpose for another purpose. Often, brokers will simply deposit these funds into their own account. This is conversion.

Oakes & Fosher Can Help

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Bernard Parker, please contact Oakes & Fosher for a free and private consultation.