Barred Broker Kitwana Thomas Made Fraudulent Reimbursement Requests

Barred Broker Kitwana Thomas Made Fraudulent Reimbursement RequestsKitwana Thomas (CRD#: 5539984) was a broker and investment advisor at Fidelity Brokerage Services in Jacksonville, Florida (2012 to 2017). In 2017, Mr. Thomas resigned from the firm after allegations that he sought and received inappropriate reimbursements.

On February 7th, 2019, the Financial Industry Regulatory Authority (FINRA) barred former Fidelity Brokerage financial advisor Kitwana Thomas from the securities industry.

According to FINRA, Mr. Thomas made fraudulent reimbursement requests. Here our securities fraud lawyers review the specific allegations against this financial advisor.

Barred Broker: Kitwana Thomas Formerly of Fidelity Brokerage Services

Fidelity sponsored a program through which its employees could receive reimbursements for personal computers and related equipment. Mr. Thomas obtained the maximum reimbursement to which he was entitled through the Fidelity program. Subsequently, FINRA contends that he used the login credentials for three other employees at the firm and purchased computer equipment on their behalf.

He then immediately returned that computer equipment. He split the proceeds of the false reimbursements with the other employees — giving them $2,300 and taking $3,700 for himself. Without admitting to or denying that he made fraudulent reimbursement requests, Kitwana Thomas consented to FINRA’s proposed sanctions: a permanent bar from the securities industry.

Were You a Victim of Financial Advisor Misconduct?

We are here to help. At Sonn Law Group, our FINRA arbitration lawyers fight for the financial interests of investors nationwide. If you lost money as a result of financial advisor misconduct, please contact our legal team for a free, no obligation consultation.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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