Finra bars former Pruco broker for diverting $47,700 from clients
Vaughn Lee Andrews-McKay was accused of using funds for his own purposes.
The Financial Industry Regulatory Authority Inc. has barred former Pruco broker Vaughn Lee Andrews-McKay for misappropriating $47,748.19 from two clients and forging signatures on checks taken from one of them.
Mr. Andrews-McKay, who was discharged by Pruco on April 12, had worked at the firm’s South Windsor, Conn., office for a little more than two years.
In January 2017, Mr. Andrews-McKay took $29,648.19 from the clients, convincing them to write personal checks to him that he claimed he would use to satisfy certain financial obligations of theirs. Instead, he deposited the checks into a bank account he controlled and used the funds for his own personal purposes.
From July through October 2017, Mr. Andrews-McKay converted an additional $18,100 from one client by writing checks to himself from the client’s checking account without her knowledge and forging her signature on the checks. He deposited the checks into a bank account he controlled and spent the money.
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