Broker Investigation: Jeffrey Robert Conklin

Jeffrey Robert Conklin (CRD#: 5749380) is a previously registered FINRA broker. Most recently, he was employed at the Huntington Investment Company in Cleveland, Ohio. In November of 2016, Mr. Conklin was terminated from his position at Huntington Investment after allegations arose that he passed fraudulent checks.

On July 2nd, 2018, FINRA announced that Jeffrey Robert Conklin was being suspended from the securities industry for six months. Here, our investment fraud attorneys review the Letters of Acceptance, Waiver, and Consent released by FINRA. For full details in this case, please refer to case NO. 2016052287201.

FINRA Sanctions: Jeffrey Robert Conklin

Under FINRA Rule 2010, registered brokers are required to uphold high standards of commercial honor and just principles of trade. FINRA alleges that Jeffrey Robert Conklin failed to live up to this obligation.

Between August of 2016 and November of 2016, Mr. Conklin allegedly engaged in a ‘check kiting’ scheme. Altogether, FINRA contends that this broker drew at least 11 bad checks with a total value of more than $43,000. In the view of FINRA, Mr. Conklin either knew that he was passing checks without sufficient funds to cover the balance or he was reckless in not knowing this fact.

Since this investigation was initiated, FINRA notes that Mr. Conklin has repaid the full amount owed to the bank as a result of his misconduct. In light of the totality of the case, FINRA has suspended this broker for six months (until January 2019) and fined him $5,000. Without admitting or denying wrongdoing, Mr. Conklin has consented to the penalties.

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