John Douglas Wade (CRD#: 4486552) is a previously registered broker and investment advisor. Most recently, Mr. Wade was employed at U.S. Bancorp Investments, Inc. (2011-2018). This broker has also been associated with Wells Fargo Advisors, Wells Fargo Investments, Citigroup Investment Services, and Edward Jones.
On June 4th, 2018, the Financial Industry Regulatory Authority (FINRA) announced the indefinite barring of John Douglas Wade from the securities industry. According to investigators, Mr. Wade stole money from elderly investors. Without admitting to or denying wrongdoing, Mr. Wade consented to FINRA’s proposed sanctions.
FINRA Complaint: John Douglas Wade
The alleged misconduct in this case occurred between 2013 and 2017, when Mr. Wade was employed at U.S. Bancorp Investments.
During that time, investigators believe that this broker made an unauthorized transfer of at least $49,000 from an investor’s account to his personal account. In addition, FINRA contends that Mr. Wade also encouraged another client to write more than $51,000 in checks to invest into a real estate investment trust (REIT). In reality, investigators believe that Mr. Wade misappropriated these funds to pay off his personal mortgage.
In both cases, the investors in question were elderly. As a result of the allegations, this broker has been indefinitely barred from the securities industry.
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