Kentucky Stockbroker Kicked Out of Securities Industry

In April 2010, the Financial Industry Regulatory Authority (FINRA) barred BB&T Investment Services, Inc. stockbroker Laura Anne Potts from working for any FINRA-member brokerage firm in any capacity. Potts consented to FINRA's findings that Potts used her access as a private banking associate to embezzle approximately $1,452,158 from customers' checking and certificate of deposit (CD) accounts. FINRA found that BB&T broker Potts fraudulently withdrew money from customers' checking and CD account in amounts ranging from $800 to $68,000. And when she did so, Potts falsely indicated that the customers had requested the withdrawal. But FIRA found that the BB&T customers neither authorized nor had knowledge of the withdrawals.

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