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Articles Tagged with Waddell & Reed

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South-Florida-Broker-Brian-Michael-Berger-Permanently-Barred-by-FINRA-300x200-300x200The Financial Industry Regulatory Authority Inc. has barred former Waddell & Reed broker, Robert Lee Basile (CRD #2392772). He faces two years of probation after pleading guilty to embezzlement and theft from an elder.

Basile’s mother opened a brokerage account with Waddell and Reed in 2014, shortly after his son joined the firm. Basile served as the broker for the account, but between January 2015 and October 2017, he allegedly withdrew funds to keep for himself. He used them to pay for his own living expenses without her consent.

Police began an investigation after they received information about elder abuse from adult protective services. The report states that the abuse occurred in Boise, Idaho, where Basile’s mother resides.

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Silver Law Group is investigating former Arizona-based LPL Financial LLC (CRD# 6413) broker Dominic T. DeBruin (CRD# 2788196) after FINRA permanently barred the broker.

According to DeBruin’s FINRA BrokerCheck report, FINRA permanently barred DeBruin from acting as a broker or otherwise associating with firms that sell securities to the public.

According to the FINRA BrokerCheck report, DeBruin, without admitting or denying the findings, consented to FINRA entry of findings that he refused to provide information and documents and to appear for on-the-record testimony as requested by FINRA.

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