OneAmerica Stockbroker Barred By FINRA For Conversion
Domingo Gonzalez of Chesapeake Virginia is a stockbroker formerly registered with OneAmerica Securities Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s investment funds. Letter of Acceptance Waiver and Consent No. 2017056563301 (Apr. 9, 2018).
According to the AWC, in March 2017, a recommendation had been made by Gonzalez to customer SM which called for SM to sell her individual retirement account and transfer those assets to an investment account that would be serviced by Gonzalez. Evidently, SM followed the recommendation, liquidating her individual retirement account and providing the check to Gonzalez after endorsing it.
Evidently, Gonzalez failed to deposit SM’s check into SM’s investment account. Rather, unbeknownst to SM, Gonzalez endorsed SM’s check over to himself and made a deposit into his own banking account, where he proceeded to utilize SM’s money for his own personal benefit, including covering the tabs at restaurants and paying his own credit cards. FINRA found that Gonzalez’s conduct was violative of FINRA Rules 2010 and 2150(a).
FINRA Public Disclosure reveals that on December 15, 2017, a customer initiated investment related complaint pertaining to Gonzalez’s conduct was settled to resolve accusations that Gonzalez failed to deposit the customer’s funds into an individual retirement account according to the customer’s expectations.
Gonzalez’s employment with OneAmerica Securities, Inc. was terminated on October 9, 2017. Between October 30, 2017 and April 9, 2018, Gonzalez was associated with Park Avenue Securities LLC.
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