With Regulatory Investigation After Being Arrested on Fraud Charges
William Roger Maurer (CRD#: 6876160) is a former securities broker. From November of 2017 to August of 2018, Mr. Maurer was employed at Voya Financial Partners (CRD#: 34815) in Jacksonville, Florida. In the summer of 2018, this financial representative was discharged by Voya Financial after he was arrested by Florida police on both fraud charges and grand theft charges.
Pursuant to securities industry regulations, the Financial Industry Regulatory Authority (FINRA) conducted its own inquiry into the conduct of this broker. Recently, Mr. Maurer was permanently barred by FINRA after he failed to provide information to investigators. Below, our investment fraud lawyer in Miami, FL provides an overview of the allegations of misconduct that have been raised against former Florida broker William Maurer.
Criminal Charges: Schemes to Defraud and Grand Theft
Voya Financial Partners terminated William Maurer after allegations that he was engaged in a fraud scheme. In July of 2018, Florida prosecutors charged Mr Maurer with participating in a Scheme to Defraud under Florida Statutes § 817.034(4)(A)1 and grand theft under Florida Statutes § 812.014(2)(A)1. It is worth mentioning that, under Florida law, the charge “Scheme to Defraud” requires state prosecutors to prove that the defendant:
- Committed fraud;
- Through systematic means; and
- Engaged in an ongoing course of misconduct.
When licensed broker-dealers discharge a registered representative from employment, industry rules mandate that they must explain to FINRA why this discharge occurred. Upon receiving adverse information about a financial advisor, as FINRA did when William Maurer was terminated by Voya Financial Partners, the agency can then launch its own inquiry into the allegations.
Registered Brokers Must Cooperate With All FINRA and SEC Investigations
As an investor, you are forced to put a lot of trust in the hands of brokers and financial advisors. There are a number of different securities industry rules and regulations that are designed to protect the general public.
Among other things, FINRA has the power to investigate misconduct, suspend or ban brokers, and publish information. Financial advisors have a professional duty to cooperate with regulatory investigations. If they fail to prove information when requested, that is grounds for a suspension or a permanent bar.
In this case, former Voya Financial Partners broker William Maurer declined to respond to requests from investigators and failed to offer relevant information. As a result of his violation of industry rules, he has been permanently barred by FINRA.
Get Legal Guidance From Our Our Miami Investment Fraud Lawyers Right Away
At Carlson & Associates, P.A., our Miami investment fraud attorneys fight hard to protect the financial interests of investors. If you suffered large investment losses working with William Roger Maurer or any other Florida financial advisor, we are available to help. To arrange a completely confidential review of your case, please call us at our Miami law office today. We represent investors through the state of Florida.
Resource:
brokercheck.finra.org/individual/summary/6876160
