In its July 2013 monthly report, FINRA disclosed that it has barred former SunTrust Investment Services broker, Kenneth Andrew Mauchin, from working for any FINRA brokerage firm. FINRA found that between June 2009 and April 2010 Mauchin stole $23,750 from the accounts of three elderly customers. SunTrust fired Mauchin in June 2011. Stockbroker fraud involving theft of funds is relatively rare, but investors should review their monthly account statements on a routine basis in order to detect such misconduct.
