Misappropriation

James Robert Schaedler Jr. of Anaheim California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $964,872.23 in damages based upon accusations that funds provided to Schaedler for the customer’s mutual fund investments had been misappropriated during the time that the stockbroker was associated with Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02197 (June 12, 2018).

FINRA Public Disclosure confirms that Schaedler has been barred from associating with any FINRA member in any capacity based upon findings that he hindered a FINRA investigation focused on allegations of his improper receipt of customer funds when he was associated with Wells Fargo. Letter of Acceptance Waiver Consent No. 2016048560401 (June 29, 2017).

According to the AWC, Schaedler was investigated by FINRA in 2016 after the regulator learned that Schaedler allegedly engaged in elder abuse or otherwise improperly influenced an elderly investor to make him a beneficiary of the customer’s estate valued at more than two million dollars. FINRA also sought to determine if Schaedler inappropriately steered the customer towards handing him $200,000.00. Schaedler denied FINRA’s request for his documentation and information relating to these allegations. He was barred for violating FINRA Rules 2010 and 8210.
Schaedler was discharged by Wells Fargo on January 10, 2017 based upon allegations of his misconduct involving a customer of the securities broker dealer.

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