Eric Eugene Ott of Cincinnati Ohio a stockbroker formerly registered with MML Investors Services LLC has been fined $15,000.00 and suspended for thirteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Ott executed the unauthorized purchases of life insurance policies held in the customer’s name and (2) Ott engaged in outside business activities which had not been disclosed to the firm. Letter of Acceptance Waiver and Consent No. 2016049496201 (Apr. 13, 2017).

According to the AWC, Ott forged the name of JT – a customer of the firm – on two insurance policies without JT’s knowledge or consent. Apparently, JT neither knew about or authorized Ott to effect the purchases of those policies. Evidently, Ott’s activities were investigated by the firm after the customer filed a complaint. FINRA found Ott’s conduct violative of FINRA Rule 2010.

Additionally, the AWC stated that Ott owned a business that made investments in real estate properties that were subject of tax deliquesces. Evidently, Ott analyzed the purchases of the real estate properties on the company’s behalf, and made efforts to purchase the properties. However, Ott never informed the firm about engaging in this outside business activity. Consequently, FINRA found Ott’s conduct violative of FINRA Rules 2010 and 3270.

Ott was discharged by MML Investors Services on March 28, 2016 based upon allegations that a customer complained about him forging the customer’s signature on insurance documentation.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website