NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
Registered Principal Tucker misappropriated approximately $847,188.87 from customers’ accounts at her member firm and used the funds for her own use and benefit. To facilitate her improper use and misappropriation of customer funds, Tucker
caused international customers’ accounts to be removed from an abandoned status,
caused the addresses for the accounts to be changed to addresses that she controlled,
effected unauthorized sales of securities in the customers’ accounts,
forged Letters of Authorization (LOAs) and Wire Transfer Agreements (WTAs) to transfer funds out of the customers’ accounts, and
approved and processed the fraudulent LOAs andWTAs.
Tucker’s conduct caused her firm to maintain inaccurate books and records. To make cash available, Tucker sold securities in several accounts without the customers’ knowledge or authorization, then transferred the proceeds to herself through relatives by wire or check. Tucker failed to respond to FINRA requests for information and failed to appear for an on-the-record interview.