The Securities and Exchange Commission (SEC) instituted administrative proceedings against broker Ronald Gene Anglin (Anglin), formerly of Merrill Lynch, Pierce, Fenner & Smith Inc. (Merrill Lynch), on allegations that Anglin engaged in securities fraud by forging letters of authorization from a Merrill Lynch customer to be sent by mail to addresses designated by Anglin.
From 2004 through October 2008, Anglin was a registered representative of Citigroup Global Markets, Inc. Thereafter, Anglin was a registered representative of dually registered broker-dealer and investment adviser Merrill Lynch until May 2011. Anglin also was an investment adviser representative for Merrill Lynch. Anglin is 38 years old and is a resident of Canyon Country, California.
On October 4, 2012, Anglin pleaded guilty to one count of mail fraud before the United States District Court for the Central District of California in U.S. v. Ronald Gene Anglin, 2:12-CR-00232-SJO. On March 25, 2013, Anglin was sentenced to three years of probation including 27 months in home detention, and ordered to make restitution in the amount of $73,000.
According to the SEC, Anglin executed a scheme whereby he forged letters of authorization purportedly from a Merrill Lynch customer that requested the disbursement of funds from the customer’s Merrill Lynch accounts to be sent to addresses that Anglin specified. Pursuant to the forged letters of authorization, the checks were made payable to people or entities that had no connection to the addresses to which he had the checks sent. The SEC alleged that when the checks arrived at those addresses, Anglin picked up the checks, or to others acting under his instructions, and deposited in bank accounts under Anglin’s control or the control of someone in his wife’s family.
Anglin’s FINRA BrokerCheck disclosures show that Anglin has been involved in at least 6 customer disputes. The customer disputes involve unauthorized trading, misappropriation of funds, and variable annuities. Merrill Lynch terminated Anglin in May 2011 and filed a Form U5 that stated the reason for the termination as “allegations that the registered representative facilitated the opening of an unauthorized joint bank account at another financial institution and the unauthorized transfer of funds from the client’s accounts to third parties unknown to the client.”
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