Charles Bridgers, Formerly of Wells Fargo, Suspended and Fined by FINRA for Allegedly Purchasing Bonds without Client Authorization

Charles Bridgers is facing allegations that he entered two municipal-securities transactions without customer authorization.

The Sonn Law Group is investigating allegations that Charles Bridgers made unauthorized purchases. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.

Charles Bridgers (CRD#:1226108) consented to the sanctions and to the entry of findings that he entered municipal-bond orders in a customer’s brokerage account, without the customer’s specific authorization and without authorization to exercise discretion over the account.

The findings stated that the customer, a longtime customer of Bridgers and his member firm, died on January 6, 2018. On January 9, 2018, before Bridgers learned of the customer’s death, he entered the municipal-bond orders in the customer’s account. After learning of the customer’s death, the firm determined that the customer could not have authorized the transactions, and reversed them.

The findings also stated that Bridgers entered notes in the firm’s customer-management system that falsely stated that he had spoken with the customer before executing these transactions — on January 9 and January 11, 2018 respectively. As mentioned above, the customer was deceased at this time. Bridgers created these false notes in an attempt to circumvent the firm’s internal controls and conceal that the transactions were unauthorized.

The sanctions imposed by FINRA include

• a suspension from association in any and all capacities with any FINRA member firm for three months; and
• a $10,000 fine.

Bridgers was terminated from Wells Fargo following allegations of the unauthorized purchases.

Prior to his employment with Wells Fargo, Bridgers was associated with First Union Capital Markets from 1996 to 1999, and Merrill Lynch from 1984 to 1997.

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional committed acts in violation of FINRA Rules, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.