Jeffrey Anderson Barred Following Allegations of Misusing Investor Funds

Jeffrey Anderson (CRD #: 5993214), a former broker with Pruco Securities, has been barred by FINRA. This is according to his BrokerCheck record, accessed on September 2, 2021. Read more about the FINRA bar below.

On August 2, 2021, FINRA barred Jeffrey Anderson following allegations that he converted and misused $26,579,72 of investor money. Jeffrey Anderson allegedly persuaded his elderly investor to make checks out to him, representing that he would use the funds to purchase investments or insurance for the investor. According to FINRA, Jeffrey Anderson instead used the money to pay for personal household expenses, food, gas, and car payments. The firm returned the misused funds to the investor.

You can read a copy of the FINRA Acceptance, Waiver, and Consent Order here.

Settled Investor Disputes

There is a similar investor dispute on Jeffrey Anderson’s record.

On September 10, 2020, an investor alleged that they made out three checks to Jeffrey Anderson for $16,500. The investor later felt concerned that the funds had not gone toward legitimate expenses. The dispute settled for $16,500.

Employment Termination

On November 13, 2020, Pruco Securities fired Jeffrey Anderson following allegations that he misappropriated funds from an investor and submitted altered documentation to an investigator during an internal investigation.

Background Information

Jeffrey Anderson has passed the following exams:

• Series 63 Uniform Securities Agent State Law Examination
• Securities Industry Essentials Examination
• Series 6 Investment Company Products/ Variable Contracts Representative Examination

He has worked with the following firms:

• Pruco Securities (CRD #: 5685)
• NYLife Securities (CRD #: 5167)

Kurta Law Can Help

If you worked with Jeffrey Anderson and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email info@kurtalawfirm.com.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.