Investigation: Corinne Mittag, former Investment Advisor with COR Clearing LLC

The Sonn Law Group is investigating claims related to Corinne Renae Mittag (FINRA CRD#: 2754498). Corinne Mittag worked in the securities industry from 1996 until 2015 when she was terminated by COR Clearing LLC following policy violations related to proper trading authorization and client verification.

Corinne Mittag was recently named a respondent in FINRA complaint which alleges that she made unauthorized trades in the account of a customer of her member firm by submitting six sales of corporate bond positions and the sale of one mutual fund position without discussing such sales with the customer or getting authorization from the customer to make the sales. Here’s the full text of the complaint:

Mittag was named a respondent in a FINRA complaint alleging that she made unauthorized trades in the account of a customer of her member firm by submitting six sales of corporate bond positions and the sale of one mutual fund position without discussing such sales with the customer or getting authorization from the customer to make the sales.

The complaint alleges that an imposter posing as the customer sent emails to Mittag requesting that she sell securities to generate cash in the account to fund a wire request to a third-party in the United Kingdom.

Despite the firm’s policies that prohibited trade requests received through email, traditional mail or voicemail from being accepted, and required wire requests sent to third-parties in foreign jurisdictions to be confirmed by telephone, Mittag never communicated by telephone about the sales with the customer or the imposter and never obtained authorization from the customer for the sales. Mittag did not have written authorization from the customer to exercise discretion in his account and Mittag’s member firm does not permit discretionary accounts and had not accepted the customer’s account as discretionary.

The complaint also alleges that Mittag falsely represented to two supervisors at the firm that she had spoken to the customer regarding the request to sell securities and a request to wire transfer the resulting funds to a third party in a foreign jurisdiction. Based on Mittag’s false representations, the supervisors granted exceptions to the firm’s policies requiring a customer’s identity to be verified and requiring disclosures to be read to the customer over the telephone.

The complaint further alleges that based on Mittag’s false representations the firm signed an attestation form that inaccurately stated that it had verbally confirmed the wire transfer thereby causing it to create and preserve false and inaccurate books and records.

If you’ve ever invested your money with Corinne Mittag the Sonn Law Group is interested in hearing from you to discuss possible legal remedies. Our experienced securities fraud attorneys will listen to the specifics of your circumstances and give you an honest evaluation of your options.

Call us now at 305.912.3000 or fill out our short contact form to speak with a legal professional about your investments with Corinne Mittag.