John Anthony Vedovino (CRD#: 6113995) is a former FINRA broker and registered investment advisor. From May of 2014 to December of 2015, Mr. Vedovino was employed at Wells Fargo Advisors, LLC in Wayne, New Jersey.
Wells Fargo terminated this broker after allegations arose that he committed fraud on his personal bank and credit card accounts. On July 5th, 2018, a FINRA disciplinary panel rendered a decision in this matter, permanently barring John Anthony Vedovino from the securities industry.
Broker Misconduct: Former Wells Fargo Broker John Anthony Vedovino
Over a six-month period in 2015, Mr. Vedovino made a number of transactions and cash withdrawals on his credit card and ATM accounts. On several occasions, he later complained to the bank that the transactions were fraudulent. By doing this he was able to obtain a reimbursement for the transaction. In total, nearly $3,500 was reimbursed by the bank.
After an investigation, the brokerage firm determined that Mr. Vedovino had actually made all of these transactions. He later testified that this misconduct was driven by his opioid addiction. Upon reviewing the case, the FINRA Hearing Panel decided to bar Mr. Vedovino from the securities industry. While the panel expressed some sympathy for his personal issues, it also noted that these issues do not mitigate the misconduct. Investors must be protected.
John Anthony Vedovino has now been barred from associating with any FINRA member firm in any capacity. He has 45 days to appeal the decision before it becomes final.
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