- December 6, 2022
- MML Investors Services
Amanda Berry (CRD#: 5651609) is a previously registered Broker.
She entered the securities industry in 2010 and previously worked for MML Investors Services, LLC; and NYLife Securities, LLC.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2022, a customer dispute against Amanda Berry was settled for $82,967.79. The allegation states, “The complainants allege that, beginning in 2019, the representative recommended that they invest in a conservative fund that wouldn’t lose money. At the instruction of the representative, they wrote checks to Icon Financial to purchase this new investment. Since then, the complainants allege that they haven’t been able to access this money, that they had to take a loan out because of this, and that the representative has stolen their money.”
In addition, Amanda Berry has been the subject of nine other disclosures, including customer complaints, regulatory sanctions and employment disclosures:
- January 2022– “The complainant alleges that their registered representative and the registered representative’s spouse misused money that was withdrawn from their fixed annuity, which was to be invested with them, beginning as early as January 09, 2018.” The customer dispute is pending.
- December 2021 — “The complainants allege that beginning on or around March 2020, they wrote checks to their registered representative, with the belief that the money was to be invested, but later learned, the money was deposited into a checking account controlled by the registered representative and their spouse. The complainants are seeking damages of $72,478.53.” The customer dispute was settled for $72,478.53.
- March 2021 — “Respondent Berry failed to respond to FINRA request for information.” FINRA sanctioned Amanda Berry with an indefinite bar from all capacities beginning July 6, 2021.
- February 2021 –“Respondent willfully engaged in an act, practice, or course of business that operated as a fraud on her clients and engaged in ethical practices in the securities industry.” Amanda Berry was permanently barred from all capacities by an order from the Oklahoma Department of Securities.
- October 2020 — “The complainant alleges that in 2019, the rep made material misrepresentations about the complainant’s accounts for the purpose of having the complainant move her funds to an account that was owned by the rep and her husband. It is further alleged that the rep replaced the complainant’s life insurance policy without proper disclosure and created fake bank statements for the purposes of deceiving the complainant’s mortgage company in regard to these investment accounts.” The customer dispute was settled for $131,607.39.
- October 2020 — “Undisclosed outside business activities involving the comingling of customer funds in an account controlled by the registered representative.” Amanda Berry was discharged by MML Investors Services, LLC.
- April 2018 — “Client alleges that he did not authorize the purchase of the policy and that his signature was forged.” The customer dispute was settled for $23,525.26
- September 2017 — “Ms. Berry resigned after a review of her business identified that in 2012 her future spouse was named as the owner and beneficiary on a life insurance policy eight months before the insured/former owner of the policy passed away. At that time, Ms. Berry was the servicing agent on the policy in question. In September 2013, the death benefit was paid to Ms. Berry’s future spouse. The deceased insured’s wife claimed that neither she nor her husband authorized or signed any transfer of ownership forms.” Amanda Berry was permitted to voluntarily resign from NYLife Securities, LLC.
- September 2017 — “The deceased insured’s wife claimed that neither she nor her husband authorized or signed any transfer of ownership forms submitted in November 2012. Ms Berry was the servicing agent on the policy in question. In September 2013, the death benefit was paid to Ms. Berry’s future spouse who was named as the owner and beneficiary eight months before the insured/former owner of the policy passed away.” The customer dispute was settled for $90,854.
For a copy of Amanda Berry’s FINRA BrokerCheck, click here.
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