{"id":1075,"date":"2017-07-05T23:38:18","date_gmt":"2017-07-06T03:38:18","guid":{"rendered":"http:\/\/www.elderfinancialfraudattorneys.com\/?p=1075"},"modified":"2018-10-04T16:00:55","modified_gmt":"2018-10-04T20:00:55","slug":"update-banned-broker-kelly-althar","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/update-banned-broker-kelly-althar\/","title":{"rendered":"Find out exactly why the broker received a lifetime ban from FINRA"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignleft\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/kelly_althar_FINRA.jpg\" alt=\"kelly_althar_FINRA.jpg\" \/><\/p>\n<p style=\"text-align: justify;\">In April, we brought you the story of <a href=\"http:\/\/www.elderfinancialfraudattorneys.com\/california-broker-kelly-althar-receives-permanent-ban-finra\/\"  rel=\"noopener\" target=\"_blank\"><span style=\"text-decoration: underline;\">Kelly Althar<\/span><\/a>, a broker who received a permanent ban from the Financial Industry Regulatory Authority (FINRA). Here is <a href=\"http:\/\/www.investmentnews.com\/article\/20170213\/FREE\/170219966\/former-broker-barred-for-bilking-elderly-client\"  rel=\"noopener\" target=\"_blank\"><span style=\"text-decoration: underline;\">additional information<\/span><\/a> that explains why FINRA made this ruling.<\/p>\n<p style=\"text-align: justify;\">While working for the Financial West Group, Althar reportedly began making investments for an elderly client who started with $308,000. Between April of 2011 and March of 2014, FINRA states that Althar made several investments for the express purpose of generating commissions. This unethical practice is known as churning. In fact, Althar is reported to have bought, sold, and then repurchased the same security in just a small timeframe.<\/p>\n<p style=\"text-align: justify;\">In December of 2012, Althar reportedly bought 700 shares of a real estate investment trust (REIT) and then just two months later, sold them for a loss of $261. After another two months, almost 800 shares of the same REIT were repurchased. Six weeks later, FINRA reports that Althar sold them, this time for a loss of over $8,100. Those trades netted Althar more than $3,000 in commissions.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/update-banned-broker-kelly-althar\/\"  title=\"Continue Reading Find out exactly why the broker received a lifetime ban from FINRA\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In April, we brought you the story of Kelly Althar, a broker who received a permanent ban from the Financial Industry Regulatory Authority (FINRA). Here is additional information that explains why FINRA made this ruling. While working for the Financial West Group, Althar reportedly began making investments for an elderly client who started with $308,000. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1076,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1102],"tags":[1129,9],"class_list":["post-1075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-banned-broker","tag-finra"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>An Update on Banned Broker Kelly Althar - silver law group<\/title>\n<meta name=\"description\" content=\"&quot; Ex-Financial West Group Broker Kelly Clayton Althar barred for unsuitable risky and excessive trading in elder fraud case. &quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/update-banned-broker-kelly-althar\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"An Update on Banned Broker Kelly Althar - 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