Erez Law is investigating claims regarding Jo Ellen Fisher (CRD #3047985, Gallipolis, Ohio). Fisher recently submitted an Offer of Settlement in which she was barred from association with any FINRA member in any capacity. See FINRA Case #2014041208401. Fisher was registered with Raymond James Financial Services, Inc., from January 2010 until her termination in May 2014. The Form U5 filed by Raymond James with FINRA to terminate Fisher’s registration stated that the reason for the termination was that Fisher “was terminated due to intentional violation of company policy with respect to receipt of client funds.”
FINRA found that Fisher intentionally converted more than $924,750 from a 95-year-old customer’s trust account without the customer’s knowledge or authorization. Fisher allegedly transferred the securities and cash from the customer’s trust account to a brokerage account owned by Fisher’s daughter. FINRA also found that after liquidating most of the securities, Fisher and her family used the funds for their personal benefit. FINRA found that Fisher provided a falsified “Godparent’s Certificate” to Raymond James and FINRA, and provided falsified client notes to Raymond James to create the false appearance that the elderly customer intended to gift the securities and cash to Fisher’s daughter because the daughter was purportedly the elderly customer’s goddaughter, which she was not.
FINRA further found that during sworn testimony provided to FINRA, Fisher falsely claimed that the elderly customer directed each of the unauthorized transfers from his trust account to Fisher’s daughter’s brokerage account because Fisher’s daughter was his goddaughter, which Fisher claimed was confirmed by the “Godparent’s Certificate.” FINRA also found that Fisher falsely testified that the client notes stating that the elderly customer intended to give money to Fisher’s daughter were authentic, and when confronted regarding evidence to the contrary, Fisher refused to answer further questions. In submitting the Offer of Settlement, Fisher neither admitted nor denied the allegations.
If you were a client of Jo Ellen Fisher or Raymond James and have experienced investment losses, financial irregularities, or unauthorized transactions, please contact Erez Law to explore your legal options. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 888-840-1571 or complete our “contact form.”