The Financial Industry Regulatory Authority said it expelled an Austin brokerage firm from the securities industry and barred the firm's former president and a broker from working in the industry.

Barred are the firm's former President, George Conwill, and Peter Aman, a former broker at the firm. FINRA said they and their firm, APS Financial Corporation, in a scheme which overcharged an elderly investor by $1.2 million.

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