FINRA bars insurance agent who got $16,000 in commissions fraudulently
An Arizona man, who filed false insurance applications and collected more than $16,000 in commissions, was barred by FINRA for his actions.
Jeffery Michael Engler, a registered representative in Marana, Ariz., was working for an insurance company associated with his member firm when he completed and submitted “e-Life Insurance Applications” in the names of applicants, FINRA records indicate.
He provided his insurance agency address as the applicants’ residence address rather than their actual addresses and signed the applicants’ names to the applications without their knowledge or consent, FINRA investigators found.
His actions enabled him to receive $16,212 in commission payments, FINRA records show.
FINRA investigators say Engler also failed to provide FINRA with requested information.
Engler neither admitted nor denied FINRA’s findings.


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