FINRA Bars Broker for Loans from Elderly Widows and Family Members

Broker Thomas Casper recently consented to the entry of findings and violations and the imposition of sanctions  for his misconduct relating to loans from customers. In January of 2012, FINRA launched disciplinary proceeding No. 2010025125101 against the broker. Casper had borrowed money from customers, including three elderly widows, without the approval of his firm Stifel Nicolaus, Inc. Casper’s actions demonstrate a violation of numerous FINRA and NASD rules. As a result, on August 29, 2012, FINRA barred Casper from associating with any FINRA member firm in any capacity.

For FINRA’s Order Accepting Offer of Settlement, click here.