On June 24 and 28, 2022, regulators allege Sean Sullivan placed 14 trades of more than $250,000 in the accounts of four customers without their authorization. Also, from April 2 to July 28, 2022, Sullivan willfully failed to amend his public record (CRD) to disclose a felony charge.
On June 24, 2022, after Sullivan became the broker assigned to Customer A’s account. Sullivan executed three stock purchases totaling $8,971 plus commissions of $270 and other costs in the account. Customer A did not authorize Sullivan to execute these stock trades.
Additionally, on June 28, 2022, after Sullivan became the broker assigned to Customer B’s accounts. Sullivan executed five stock purchases totaling $49,062 plus commissions of $1,200 and other costs, and three stock sales totaling $49,591 plus commissions of $250 and other costs.
On June 28, 2022, after Sullivan became a broker assigned to Customer C’s account. Sullivan executed a stock sale for $7,807 plus a commission of $272 and other costs in the account. Customer C did not authorize Sullivan to execute that trade.
Further, Sullivan did not just commit fraud with churning. On March 2, 2022, the State of New York issued a felony complaint charging Sullivan with burglary in the first degree. Sullivan did not report this charge to his employer or allow it to be on his public disclosure.
This is a continuation of a history of alleged wrongdoing. Sullivan has ten disclosures, incidents evidencing an inability to manage funds, on his record.
Jeffrey Pederson represents investors victimized by bad brokers. Call to discuss losses with Sullivan or other brokers.
Recent Comments