According to a FINRA Disciplinary Action disclosure, Michael Thomas Lombardo (CRD #4091665, Stamford, Connecticut) recently submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Lombardo consented to the sanction and to the entry of findings that he misappropriated funds from a customer of his member firm by forging the customer’s signature on an IRA distribution request form. The findings stated that Lombardo took delivery of the IRA disbursement check, forged the customer’s signature on the check and converted the funds to his own use. Lombardo also converted additional funds from other firm customers.
For the full details of FINRA’s investigation, see FINRA Case #2014040513601.
According to Mr. Lombardo’s FINRA Broker Report, he was employed by David Lerner Associates from October 2002 through March 2014.
The foregoing information, which is publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
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