Financial Advisor Paris Lewis is the Subject of a Customer Dispute Alleging Unauthorized Withdrawals

• December 12, 2024
• NY Life Securities

Paris Monte Lewis (CRD#: 2335964) was a previously registered broker and investment advisor.

Broker’s History

He entered the securities industry in 1994 and previously worked with Metropolitan Life Insurance Company; Metlife Securities, Inc.; 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 September 2024, Paris Lewis became the subject of a customer dispute alleging, “that beginning in 2019, there were withdrawals from her variable annuity without her knowledge and consent. The claim seeks compensatory damages of approximately $150,000, plus interest, fees, costs, and other damages.” The customer dispute is still pending.

In addition, Paris Lewis has been the subject of three other FINRA disclosures:

• September 2023—“ The complainant alleges that two large unauthorized withdrawals were taken from her variable annuity by the producer.” The customer dispute was denied.
• December 2019—Discharged by NYLife Securities LLC, “Mr. Lewis was terminated after he violated company policy by borrowing money from a customer. The company became aware of this matter when the company received a verbal customer complaint.”
• February 2015—Discharged by Metlife, “THE REGISTERED REPRESENTATIVE DID NOT FOLLOW FIRM POLICY WITH RESPECT TO OUTSIDE BUSINESS ACTIVITIES.”

For a copy of Paris Lewis’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

FINRA Rule 2150 specifically addresses theft and conversion in a customer account, stating “no member or person associated with a member shall make improper use of a customer’s securities or funds.” This rule includes any “guarantee” that brokers make to customers in relation to losses incurred in a brokerage account.

In addition, FINRA Rule 3240 strictly prohibits a financial advisor from borrowing money from a client absent from unique circumstances, such as a familial relationship between the Financial Advisor and the client. There is also an exception if the client is a financial institution regularly engaged in the business of lending. The reason for this prohibition is clear—borrowing money from clients creates an immediate conflict of interest and can potentially lead to theft or conversion of client assets.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.