Former Broker Zachary Scott Wagner Barred by FINRA After Refusing to Provide Testimony in Connection with Investigation Concerning Potential Misuse of Customer Funds

FINRA is also investigating Wagner’s alleged involvement in potential undisclosed business activity.

Zachary Scott Wagner (CRD#: 6694074) was registered as a broker with OneAmerica Securities in Gilbert, AZ, from March 13, 2019, until March 29, 2019. Previously, Wagner was registered as a broker with Merrill Lynch in Gilbert, AZ, from December 2017 until October 2018. Wagner started his career as a broker with Wells Fargo in October 2016.

Wagner has four disclosures on his BrokerCheck report.

January 2020 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Wagner consented to the sanction and to the entry of findings that he failed to provide testimony requested by FINRA in connection with an investigation concerning potential misuse of customer funds and involvement in a potential undisclosed outside business activity. The findings stated that Wagner’s member firm filed a Form U5 reporting that he had been terminated for failing to provide accurate information during the pre-hire process. Warner’s other firm filed a Form U5 amendment reporting that he had potentially used a client’s funds for personal use, and made misrepresentations about the client’s accounts, while employed at the firm.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Bar
• Registration Capacities Affected: All Capacities
• Duration: Indefinite
• Start Date: 1/21/2020

March 2019 Employment Separation After Allegations

• Firm Name: OneAmerica Securities
• Termination Type: Discharged
• Allegations: The representative is accused of multiple violations of the Securities Act of Arizona and the Arizona Investment Management Act. Representative is accused of offering or selling securities within or from Arizona while not registered as a salesman and engaging in fraudulent activity by using a client’s funds for personal use rather than investing and providing material misrepresentations through false documents in regards to the client’s account.

March 2019 Investigation

• Initiated By: Arizona Securities Division
• Description of Investigation: Representative is accused of multiple violations of the Securities Act of Arizona and the Arizona Investment Management Act. Representative is accused of offering or selling securities within or from Arizona while not registered as a salesman and engaging in fraudulent activity by using a client’s funds for personal use rather than investing and providing material misrepresentations through false documents in regards to the client’s account.

March 2019 Regulatory Judgment

• Status: Final
• Initiated By: Arizona Corporation Commission Securities Division
• Allegations: Representing to a client that Respondents Wagner and Wagner Capital Management LLC would invest her funds in securities to generate a monthly income of $2,000 – $3,000 then spending the majority of those funds on items consistent with personal use and losing the remaining funds on trading securities. Wagner did not disclose to Merrill Lynch that he and WCM were buying and selling securities for the investor client described in this Order. Merrill Lynch terminated Wagner on September 7, 2018, for this failure to disclose. Upon his termination from Merrill Lynch, Wagner was not associated with a registered dealer and his salesman registration with the Commission was automatically suspended pursuant to A.R.S. §44-1949. On February 6, 2019, Wagner was then employed at OneAmerica Securities, Inc., CRD #4173. On March 13, 2019, Wagner applied with the Commission for registration as a salesman and licensing as an investment adviser representative.
• Resolution: Resolution
• Sanctions: Cease and Desist
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $15,000.00
• Sanctions: Denial
• Sanctions: Restitution
• Amount: $55,928.00
• Sanctions: Revocation
• Sanctions: Pursuant to A. R. S. § 44-1962, Zachary Wagner’s securities salesman registration was revoked and his application for registration was denied. Pursuant to A.R.S. § 44-3201, Zachary Wagner’s investment adviser representative license was revoked and his application for licensure was denied.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Zachary Wagner. 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.