Broker Investigation: Susan Walker

Susan Walker (CRD#: 1823041) is a former FINRA broker. From 2008 to 2013, Ms. Walker was a representative of Ameriprise Financial Services based out of a branch office Wayzata, Minnesota. In March of 2013, Ms. Walker was terminated from the brokerage firm after allegations that she misappropriated client funds.

Eventually, Ms. Walker was also barred by FINRA and she pleaded guilty to tax fraud and mail fraud charges. On September 19th, 2018, the Securities and Exchange Commission (SEC) filed a new complaint against former Ameriprise Financial Services broker Susan Walker seeking to permanently expel her from the securities industry.

Understanding the SEC Complaint: Former Ameriprise Broker Susan Walker

Former Ameriprise Financial Services broker Susan Walker was sentenced to 88 months in prison for the financial advisor theft. She was also ordered to pay full restitution to affected investors. The SEC is now seeking to permanently bar Mr. Walker from engaging in the securities industry in any manner.

According to investigators, Susan Walker, along with another former Ameriprise representative named Barbara Stark, forged client signatures on dozens of brokerage firm forms. By doing so, they were able to obtain checks and wire transfers to their own personal accounts. Unfortunately, elderly and vulnerable investors were largely the targets of this fraud scheme.

Based on the evidence and information obtained in the criminal cases filed against Susan Walker, the SEC has concluded that she knowingly executed a scheme to defraud her brokerage customers out of money through materially false and fraudulent representations. In total, the SEC contends that Ms. Walker diverted more than $975,000 for her own personal use.

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