Former J.P. Morgan rep ousted from industry
A broker who was fired from J.P. Morgan Chase last month has now been permanently expelled from the securities industry by FINRA.
Jonathan Casiano was barred for allegedly stealing at least $14,400 from three bank customers. He carried out the heist by issuing debit cards that were linked to the customers' accounts and then directing family members and a friend to use the debit cards to make unauthorized withdrawals, FINRA claims. The alleged misconduct occurred in June.
Casiano worked for J.P. Morgan Chase in Arlington, Texas. He joined the bank in November 2012 and was fired in July, according to his BrokerCheck report. He was registered with J.P. Morgan Securities.
Casiano could not be reached for comment. In his settlement with FINRA, Casiano neither admitted nor denied the charges but consented to an entry of FINRA's findings.
Michael Fusco, a spokesperson for Chase Wealth Management, declined to comment on the matter.
FINRA barred the former J.P. Morgan rep for allegedly using customer debit cards to steal $1,002.
The regulator reprimanded Citizens’ retail brokerage for not amending reps' Forms U4 and U5 within 30 days of learning of complaints.
The rep purportedly stole $8,700 from an account funded with donations, according to FINRA.