According to InvestmentNews, the former Raymond James broker that devised a scheme to swindle a 95 year-old client out of nearly $1 million has been barred by the Financial Industry Regulatory Authority.
InvestmentNews reports, Jo Ellan Fisher allegedly claimed that the elderly client was her daughter’s “godfather” and wanted to her to have the money when she turned 21. FINRA accused Ms. Fisher of falsifying a “godparents certificate” to deceive FINRA and the firm to have the funds when she turned 21.
In addition to working with Raymond James, Ms. Fisher was an employee of Peoples Bankcorps in Gallipolis, Ohio. The firm fired Ms. Fisher when they learned of her conduct.
According to InvestmentNews, Raymond James filed an action seeking to recoup the money from Ms. Fisher. However, Ms Fisher is accused of spending the money on personal expenses such as a 2014 Ford Explorer, jewelry, her mortgage and home repairs.
The foregoing information, which is all provided on the InvestmentNews website, is being provided by The White Law Group.
If you were a client of Jo Ellen Fisher and suffered investment losses, please call The White Law Group at (312)238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, investor protection/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
To learn more about The White Law Group, visit www.WhiteSecuritiesLaw.com.
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