According to federal court documents, Gregory B. Walker, a former financial advisor with Raymond James, was indicted in January by a U.S. District Court grand jury in Fort Wayne and is currently facing a three count federal indictment accusing him of aggravated identity theft and wire fraud.
The indictment alleges that Gregory Walker created fraudulent distribution forms to have money transferred from client accounts to a bank account belonging to an associate of Walker's.
The indictment further alleges that the company where Walker worked kept clients' money at a bank in St. Petersburg, Florida and that clients could request money from their accounts using distribution request forms which required the client's name, birth date and Social Security number.
The court documents further allege that on February 11, 2011, Walker created such a form with the authorization of the client and had the money transferred by wire to a Fort Wayne bank (Mr. Walker allegedly did it again on February 28 and tried again on March 1 or March 2, using a different client's information).
He is accused of wire fraud in the transfer of money and the attempted transfer.
The aggravated identity theft count alleges Walker used the identity of another person to commit a felony.According to FINRA reports, Walker was suspended from the securities industry in June after he failed to respond to a request for information and in October, FINRA permanently barred him from such work in any capacity at financial entities under the agency's domain.
The White Law Group is investigating what liability Raymond James, Mr. Walker's apparent employer at the time of these allegations, may have for failure to properly supervise Mr. Walker.
For more on The White Law Group's investigation, visit:
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.