According to a recent FINRA Disciplinary Action, Jason Mitchell Meyers (CRD #1842913, Huntington, New York) submitted an AWC in which he was barred from association with any FINRA member in any capacity.
Without admitting or denying the findings, Meyers consented to the sanction and to the entry of findings that he misappropriated at least $700,000 of funds raised from investors in a series of private offerings of securities. The findings stated that the investors have never received a return of their principal or any return on their investments. The offerings were purportedly designed to raise money to buy the broker-dealer where Meyers worked. Meyers raised approximately $3 million for investment in an entity Meyers created and controlled. While Meyers used some portion of the funds raised to fund his broker-dealer’s operations, meet net capital obligations at the firm and purchase a small interest in the broker-dealer, he used significant portions of the funds raised for his own personal use, which was neither authorized by investors, permitted under the terms of the offering documents or disclosed to customers. Myers was not entitled to any compensation.
For the full case information, see FINRA Case #2010024003801.
According to his FINRA Broker Check Report, Meyers was registered with ICM Capital Markets from July 2004 through May 2012.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
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