{"id":10246,"date":"2021-11-02T16:57:15","date_gmt":"2021-11-02T20:57:15","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10246"},"modified":"2021-11-02T16:57:15","modified_gmt":"2021-11-02T20:57:15","slug":"kenneth-welsh-charged-after-misappropriation-of-nearly-3m","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/kenneth-welsh-charged-after-misappropriation-of-nearly-3m\/","title":{"rendered":"SEC Charges Former Broker Kenneth Welsh After Misappropriation Of Nearly $3M"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10247 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Kenneth-Welsh.jpg\" alt=\"Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since 2004.  On October 28, 2021, The Securities &amp; Exchange Commission (SEC) charged Welsh with misappropriation of $2.86 million from client accounts. Many of these clients were elderly investors, described by the SEC as \u201cfinancially unsophisticated.\u201d  Prior to any transfer, the complaint alleges, Welsh circumvented the firm\u2019s policies to carry them out. He also sold and traded in the customer accounts to ensure available cash for his unauthorized activity. Welsh made these sales within days of the illicit transfers.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Kenneth-Welsh.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Kenneth-Welsh-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Kenneth Welsh (Kenneth Andrews Welsh CRD:# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/4657872\" target=\"_blank\">4657872<\/a>) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since 2004. <a href=\"https:\/\/www.silverlaw.com\/blog\/kenneth-welsh-charged-after-misappropriation-of-nearly-3m\/#more-10246\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[591,580],"tags":[],"class_list":["post-10246","post","type-post","status-publish","format-standard","hentry","category-misappropriation","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kenneth Welsh Charged After Misappropriation Of Nearly $3M<\/title>\n<meta name=\"description\" content=\"Kenneth Welsh is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services of Fairfield, New Jersey.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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