A former Stifel advisor allegedly used blank checks from his 87-year-old client’s account — meant for use in the event the client was no longer able to pay caregivers — and spent part of the funds on a 1976 Corvette.
FINRA barred

From at least August 2017 through May 2018, while registered with Stifel, Yanow allegedly wrote approximately 33 checks from the client’s account. In May, Stifel discharged the former advisor from the firm in a Form U5 because he allegedly “took money from a client account for personal use without authorization,” per FINRA BrokerCheck records.
Yanow, and his lawyer Teny Geragos, did not return requests for comment.
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The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.
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One couple in their eighties invested more than $700,000 with the alleged schemers, representing almost the entirety of their cashed-out pension, regulators say.
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Spanning 50 federal districts, the case involves criminal and civil charges for as many as 200 defendants.
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Yanow started in the industry in 1991 with Halpert and Company, a previously registered firm based in Millburn, New Jersey, per BrokerCheck. He worked with Oppenheimer for seven years, Wachovia for three years and UBS for five years, per BrokerCheck. A representative at Stifel’s Boca Raton, Florida, branch declined to comment.
Citing company policy, a Stifel representative could not comment on former advisors.
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