Jaime E. Carvallo (CRD#: 4520352) is a previously registered FINRA broker. From 2010 to 2017, Mr. Carvallo was a representative of Park Sutton Advisors, LLC in New York, New York.
Earlier this year, this broker was permanently barred from the securities industry following allegations that he forged signatures.
To review the complete details of this case, please refer to Letter of Acceptance, Waiver and Consent No. 2017054419802.
Financial Advisor Misconduct: Jaime E. Carvallo
Under FINRA Rule 2010, registered representatives have a duty to uphold high standards of commercial honor and integrity. FINRA alleges that former Park Sutton Advisors broker Jamie E. Carvallo violated this professional obligation.
According to FINRA, Mr. Carvallo was banned by several auction houses after he bid on items but failed to ever pay for them or collect them. In order to continue to participate, FINRA alleges that Mr. Carvallo impersonated at least ten different co-workers and customers — forging and falsifying documents.
In 2017, he was arrested and charged with multiple counts of theft and identity theft. Without admitting to or denying any of the allegations against him, Mr. Carvallo consented to FINRA’s proposed penalties, including a permanent bar from the securities industry.
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