A former platform rep from People's United Bank was expelled from the industry on Monday for ripping off a bank customer.
Tricia Denise Willis, a licensed investment associate of People's Securities and a financial services manager and teller of the Bridgeport, Conn.-based bank, allegedly solicited a $2,500 loan from a bank customer who was also a personal friend. According to FINRA's filing on Monday, Willis persuaded the customer to allow her to take the funds directly from the customer's home equity line of credit.
Willis, however, took advantage of the situation, allegedly withdrawing the funds by forging the customer's signature on bank withdrawal slips and processing them at her own teller window at the bank. The customer did not authorize Willis to sign the customer's name on any documents, according to FINRA.
In addition, Willis flagrantly swiped an additional $17,400 from the customer's home equity line of credit by again preparing withdrawal slips, forging the customer's signature and processing them at her own bank teller window.
In total, she signed the customer's name on 28 withdrawal slips without the customer's authorization, FINRA said. The withdrawals purportedly occurred during May through October of 2013.
Willis did not respond to an email sent via BrightScope Advisor Pages, an online directory for financial advisors. She could not otherwise be reached for comment. In her settlement with FINRA, Willis neither admitted nor denied the charges but consented to an entry of FINRA's findings.
Willis was discharged from People's United Bank in November of 2013 for her misconduct. She worked in the Willimantic, Conn. branch of the bank, accord to her BrokerCheck report.
Valerie Carlson, a spokesperson for People's United Bank, declined to comment on the matter.
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