After converting $26,579 from an elderly NYLife customer and using the cash for personal needs, FINRA prohibited former NYLife Securities LLC broker Jeffrey Scott Anderson from the securities profession.
On August 2, 2021, Jeffrey Scott Anderson and FINRA signed an Acceptance, Waiver, and Consent (“AWC”) letter.
According to the AWC, Mr. Anderson stole $26,579 from his senior NYLife customer between October and December 2019 by enticing him to write five cheques to him personally to buy investments or insurance for the customer. Mr. Anderson put the customer’s cash into his personal bank account and utilized the funds to pay for personal costs such as household expenses, food, gas, and automobile payments, rather than investing or insuring them.
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