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David Austin of Grand Rapids, Michigan recently had his securities agent registration revoked by Michigan’s securities regulator following allegations that he engaged in dishonest or unethical business practices in the banking industry. Specifically, it was alleged that Mr. Austin misappropriated close to $150,000 from the bank affiliated with the broker dealer that held his securities agent registration, JP Morgan Securities.

Austin was previously barred by the Financial Industry Regulatory Authority after he consented to the entry of findings that “he converted approximately $144,000 from three customers of his member firm’s affiliated bank.” The findings stated that “Austin forged withdrawal slips for the bank customers, two of whom were over 90 years old, and made unauthorized cash withdrawals from their accounts, which he kept for his personal use.” The findings also stated that Austin “transferred funds from two of these customers’ joint bank account to his personal bank account without authorization.”

If you have suffered losses as a result of the misconduct or malpractice of David Austin, contact attorneys at Mika Meyers, PLC for a free no-obligation consultation. We will evaluate whether you have claims and then proceed with meritorious claims on a contingent-fee basis, which means we only get paid if we recover money for you.

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If you have suffered investment losses as a result of malpractice or misconduct our experienced team of investment fraud attorneys may be able to assist you in recovering some or all of your losses. Call us toll-free at 888-607-4819 for a free consultation or email us through our “Contact” page to schedule a free consultation.