The investment fraud attorneys at Gana Weinstein LLP are currently investigating Chelsea Financial Services (Chelsea Financial) broker George Warner (Warner). According to BrokerCheck Records, Warner has been subject to a regulatory matter in which the Financial Industry Regulatory Authority (FINRA) sanctioned Warner for the violation of the securities laws. In addition, Warner has been subject to termination from two firms of employment and a customer complaint.
In November 2014, Warner was permitted to resign from NFP Advisor Services for changing customer documents and information after the clients had signed the documents. In June 2013, Warner was discharged from LPL Financial LLC for getting customer signatures on account transfer forms that were blank.
Subsequently, in April 2017, FINRA found that Warner altered customer documents without customer knowledge or permission on over five occasions in which he included customer liquidity needs, net worth, annual income, alternative investment forms, and an IRA application. By altering the firm’s documents, Warner impeded on the firm’s ability to maintain accurate records. Without admitting or denying the findings, Warner consented to the sanctions and to the entry of findings. Consequently, FINRA imposed a $5,000 fine and 30 day suspension.
In addition, Warner has been subject to a customer dispute. In August 2009. a customer alleged that Warner purchased CIT bonds instead of CITI Corp bonds. The case was settled at $225,000.