Barred Former First Financial Equity Corporation Broker Robert High Pled Guilty to Defrauding Client

First Financial Equity Corporation

Barred former First Financial Equity Corporation broker Robert High (CRD# 4568165) faces accusations of misappropriation of funds and forgery. He was registered with First Financial Equity Corporation in Scottsdale, Arizona from 2012 to 2019.

In February 2019, the Federal Bureau of Investigation (FBI) opened an investigation regarding a potential forgery and misappropriation of funds. 

In March 2019, FINRA barred Robert High after he failed to respond to a FINRA request for information.

In May 2022, the Division of Enforcement alleged that he pled guilty to engaging in a “scheme or artifice to defraud one of his clients out of a benefit in excess of $100,000,” by means of fraudulent pretenses, representation, promises, or material omissions, and that he knowingly converted the client’s money. According to the Securities and Exchange Commission (SEC), he was sentenced to two and a half years in prison with restitution for “all economic loss to all victims.” 

Robert High Customer Complaints

He has been the subject of seven customer complaints between 2006 and 2019, two of which were denied and one was closed without action, according to his CRD report. The most recent complaint was regarding: 

March 2019. “Alleged misappropriation of funds.” The customer sought $146,000 in damages and the case was settled for $145,827.22. The complaint took place while he was registered with First Financial Equity Corporation.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, First Financial Equity Corporation may be liable for investment or other losses suffered by Robert High’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.