The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Jermaine Joseph. According to his publicly available FINRA BrokerCheck report, Jermaine Joseph has been the subject of a FINRA sanction.
Jermaine Joseph was a Florida based securities broker. He worked in the securities industry for just two years. He spent his entire career registered with PFS Investments.
The Allegations
Jermaine Joseph was officially sanctioned by FINRA in December 2017. The findings in this matter state that Jermaine Joseph allegedly failed to disclose to his member firm that he had been named beneficiary of a customer’s will.
He also allegedly received a $30,000 check from said customer to invest; however, he allegedly comingled the customer funds with personal funds after he deposited the check into his own personal checking account. This alleged action was a violation of the firm’s policies and FINRA Rule 2010.
The findings go on to state that he allegedly made false statements to his firm. He allegedly flat out denied that he was serving as the customer’s executor or personal representative. He also allegedly claimed that he had not spent any amount of that $30,000 for personal use; however, this was realized to be false.
Due to these allegations against him, Jermaine Joseph was barred from acting as a securities broker in any fashion.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Jermaine Joseph, please contact Oakes & Fosher for a free and private consultation.
