January 11, 2013
Lovebird Stockbroker Absconds With
Girlfriend Customer's Investment
In May 2010, a PFS customer of Suber's purchased a MetLife variable annuity. In and of itself, not exactly a stunning revelation. What gets interesting is the assertion in the Offer of Settlement that following this annuity purchase, the customer and Suber began a romantic relationship. Nothing like a little bit or romance on Wall Street.
A quick recap before we call the next play. We got a joint spousal account. Except the husband is dead. Except no one changed the account into the wife's name. Except the surviving wife now wants to distribute funds from the joint account. Except she just signed an incomplete transfer form. Except she signed her dead husband's name. Except - well, you know, the damn form didn't get submitted.