Minnesota Broker John Heath Allegedly Steals Funds from a Client’s Annuity

FINRA issues permanent bar from securities industry after failing to respond to the allegations and two counts of theft while employed at Independent Financial Group

As of July 2016, Minnesota broker John Vernon Health has been barred by FINRA. His history in the financial services industry dates back to 1993 when he was employed by Gardener Financial Services in Minneapolis. He was also employed by Royal Alliance Associates in New York from April 1993 to July 2001 and by QA3 Financial Group in Minnesota from July 2001 to February 2011.

During his most recent position at Independent Financial Group, Heath was suspended by the FINRA for failing to respond to requests for information regarding a complaint from a client for allegedly stealing funds from an annuity. Because he failed to provide the requested information and request a termination of his suspension, Heath was subsequently permanently barred by FINRA and was terminated by Independent Financial Group in March 2016.

Although the wrongful acts allegedly began back in 2008, they were not discovered until 2015 when the client’s annuity received a request to update information to Heath’s personal address and not the client’s. Heath is facing two counts of theft for stealing funds from his client’s annuity and for preying upon an elderly client who was suffering with Alzheimer’s Disease.

If you have had any dealings with John Vernon Heath and believe that you have lost money as a result of this relationship, you may be able to recover some or all of your losses through securities arbitration.

Silver Law Groups experienced attorneys specialize in helping victims of elder financial fraud who have lost money at the hands of a trusted financial advisor. We provide our services on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. Contact us today with us today for a complimentary consultation.