FINRA barred a former bank advisor from the industry for attempting to swindle customers.
In addition, he falsified a customer’s account summaries, mailing them to the customer without Citigroup’s or Morgan Stanley’s knowledge and review, FINRA said. At least two of the statements falsely inflated the value of the customer’s portfolio.
Babcock worked for
In addition to barring Babcock, FINRA fined and suspended an advisor formerly registered with
Ellis, who turns 65 in June, noted that he had a 35-year perfect record with FINRA before his termination by
FINRA also suspended and fined
Vitale’s suspension went into effect on
Babcock, Ellis and Vitale neither admitted nor denied the charges but consented to an entry of FINRA’s findings.
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