Eugene Gordon, Formerly of Morgan Stanley, Suspended by FINRA for Unauthorized Trades

Eugene Gordon allegedly allowed a client to direct trades in her husband’s account. 

The Sonn Law Group is investigating allegations that Eugene Gordon committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Eugene Gordon (CRD# 474448) is currently employed by Fortune Financial Services. He was terminated from Morgan Stanley in February 2018 after allegations involving a husband’s claims that Gordon allowed his wife, who was also a customer, to make withdrawals from his retirement account without his consent. 

The former client has also filed an arbitration dispute against Gordon. He is seeking nearly $2 million in damages. Last week, FINRA fined Gordon $5,000 and suspended him for 90 days for activities that violated Rule 2010 requiring registered representatives to “observe high standards of commercial honor and just and equitable principles of trade.” 

FINRA’s findings state that over a period of four years, Gordon followed the wife’s instructions to make mutual fund trades resulting in 32 transfers of $317,705 from his client’s individual retirement account to the couple’s joint bank account. The wife had no authorization over the IRA account, according to FINRA.

Gordon entered also inaccurate notes about the transactions indicating he spoke with the customer and received authorization to make the trades when he had actually only received authorization from the wife. That caused Morgan Stanley to keep inaccurate records, according to the consent letter.

Contact Us Today

The Sonn Law Group is currently investigating allegations of misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.