Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 24, 2016 indicate that former Tennessee-based Raymond James broker Wonnie Short has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Short (CRD# 2243627).
Wonnie Short has spent 23 years in the securities industry and was most recently registered with Raymond James & Associates in Nashville, Tennessee (2011-2016). Previous registrations include Wells Fargo Advisors in Nashville, Tennessee (2008-2011); AG Edwards & Sons in Nashville, Tennessee (1996-2008); Sunpoint Securities in Longview, Texas (1996); and JC Bradford & Company in New York, New York (1992-1996). He is currently not registered with any state or firm.
According to his BrokerCheck report, Wonnie Short has received one regulatory sanction.
In May 2016, FINRA sanctioned Wonnie Short following allegations he “misused funds by failing to ensure that a charitable foundation received funds it was due from a client’s annuity, and instead he retained the funds for the client’s estate and, ultimately, his personal benefit.” According to FINRA’s complaint:
“The findings stated that one of Short’s clients executed a will naming him executor of her estate and leaving two-fifths of her residuary estate to him. When the client passed away, Short was appointed executor. One of the assets held by the client at the time of her death was an annuity worth approximately $102,000. Pursuant to a beneficiary designation form, 90% of the annuity was to go to the local charitable foundation, which was also a customer of his member firm, and 10% was to go to the client’s estate. After Short submitted a claim form for the annuity, the annuity company sent the clients estate a check for the full amount of the proceeds from the annuity and all of the funds were deposited into the estate’s account at the firm. The charitable foundation did not receive its portion of the annuity, approximately $92,000. As a result, when the residue of the estate was distributed, Short received more than $30,000 in additional funds to which he was not entitled. When the foundation later asked Short about the annuity, he falsely stated that the client had removed the foundation as a beneficiary.”
Pursuant to FINRA’s findings, Mr. Short was permanently barred from the securities industry.
In 2011, Wonnie Short voluntarily resigned from his position at Wells Fargo Advisors following allegations that he received money from the estates of elderly clients.
If you or someone you know has lost money investing with Wonnie Short, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.