EX-STIFEL BROKER BANNED FROM INDUSTRY FOR PONZI SCHEME
FINRA Permanently Bars Broker.
Kenneth George Neely, a former employee of Stifel Nicolaus, has been permanently banned from the securities industry for running a $600,000 Ponzi scheme.
According to sltoday.com of July 28, 2009:
The Financial Industry Regulatory Authority announced Monday that broker Kenneth George Neely took $600,000 from at least 25 victims, claiming he would invest it in a fictitious investment club and a nonexistent real estate investment trust.
Neely also signed up his brokerage clients, while trying to hide that fact from his employers, regulators said. FINRA records show that Neely moved from UBS to Stifel Nicolaus and finally to AXA in Clayton.
Finra Press Release link.
Kenneth G. Neely, CRD# 1586038
Was employed at Stifel October 2002 to January 2007. Some of the frauds occurred while he was employed there.
Kenneth George Neely, a former employee of Stifel Nicolaus, has been permanently banned from the securities industry for running a $600,000 Ponzi scheme.
According to sltoday.com of July 28, 2009:
The Financial Industry Regulatory Authority announced Monday that broker Kenneth George Neely took $600,000 from at least 25 victims, claiming he would invest it in a fictitious investment club and a nonexistent real estate investment trust.
Neely also signed up his brokerage clients, while trying to hide that fact from his employers, regulators said. FINRA records show that Neely moved from UBS to Stifel Nicolaus and finally to AXA in Clayton.
Finra Press Release link.
Kenneth G. Neely, CRD# 1586038
Was employed at Stifel October 2002 to January 2007. Some of the frauds occurred while he was employed there.
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