FINRA

FINRA RULE 2010: RODRIGUEZ CONVERTED AND MISAPPROPRIATED $10,000 FROM THE BANK CHECKING ACCOUNT OF A CUSTOMER OF HIS MEMBER FIRM AND THE FIRM'S BANK AFFILIATE. WHILE RESEARCHING AN INVESTMENT FOR THE CUSTOMER, A BANK EMPLOYEE DISCOVERED THAT RODRIGUEZ HAD DIVERTED A $10,000 CHECK FROM THE CUSTOMER'S BANK CHECKING ACCOUNT AND MADE THE CHECK PAYABLE TO A THIRD PARTY, WHO WAS ALSO A BANK CUSTOMER AND CLOSE PERSONAL FRIEND OF RODRIGUEZ. THE CUSTOMER NEITHER AUTHORIZED RODRIGUEZ TO MAKE THE CHECK PAYABLE TO THE THIRD PARTY NOR DIVERT THE FUNDS TO THE THIRD PARTY'S ACCOUNT AT THE BANK. THE THIRD PARTY MADE TWO CASH WITHDRAWALS FROM THEIR ACCOUNT AT THE BANK, ONE FOR $2,000 AND ANOTHER FOR $8,000. THE THIRD PARTY THEREAFTER GAVE THE MONEY TO RODRIGUEZ, WHO USED THE FUNDS FOR HIS OWN PERSONAL BENEFIT. THE BANK ULTIMATELY RE-DEPOSITED $10,000 INTO THE CUSTOMER'S BANK CHECKING ACCOUNT, AND AS A RESULT OF THE BANK'S INQUIRY, RODRIGUEZ REPAID APPROXIMATELY $5,000 TO THE BANK.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

8/25/2011

WITHOUT ADMITTING OR DENYING THE FINDINGS, RODRIGUEZ CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.