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.
