- June 27, 2022
- First Financial Equity Corp.
Robert High (CRD#: 4568165) was a previously registered Broker and Investment Advisor.
He entered the securities industry in 2002 and previously worked for First Financial Equity Corporation; Chase Investment Services Corp.; Banc One Securities Corporation; and Edward Jones.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2022, the U.S. Securities & Exchange Commission (SEC) took regulatory action against Robert High, which remains pending. The SEC sanction states, “The Securities and Exchange Commission deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940 against Robert Charles High, II (“Respondent” or “High”). After an investigation, the Division of Enforcement alleges that, on February 22, 2021, Respondent pleaded guilty to one count of Attempted Fraudulent Schemes and Artifices in violation of Ariz. Rev. Stat. §§ 13-1001 and 13-2310, and one count of theft in violation of Ariz. Rev. Stat. § 13-1802 before the Superior Court of the State of Arizona in and for the County of Maricopa in State of Arizona vs. Robert Charles High, II, CR2019-006501-001. On March 30, 2021, Sentencing Order was entered against High. He was sentenced to a term of imprisonment of two-and-one-half years with restitution for all economic loss to all victims. The counts of the indictment to which High pleaded guilty alleged, among other things that Respondent engaged in a scheme or artifice to defraud one of his clients out of a benefit in excess of $100,000, by means of fraudulent pretenses, representation, promises, or material omissions, and that he knowingly converted the client’s money. As a result of High’s agreement to plead guilty, the fraudulent scheme charge was amended to an attempt. The theft count remained unchanged.”
In addition, Robert High has been the subject of seven customer complaints band myriad other disclosures, including the following:
- March 2019 — “Respondent High failed to respond to FINRA request for information.” FINRA barred Robert High from all capacities indefinitely beginning June 28, 2019.
- March 2019 — “ALLEGED MISAPPROPRIATION OF FUNDS.” The customer dispute was settled for $145,827.22.
- February 2019 — “VIOLATION OF FIRM’S POLICIES.” Robert High was discharged from First Financial Equity Corporation.
- February 2019 — “POTENTIAL FORGERY/ MISAPPROPRIATION OF FUNDS.” Robert High was investigated by the FBI.
- June 2013 — “CLIENT ALLEGES MISREPRESENTATION REGARDING MANAGED ACCOUNT INVESTMENT. ACTIVITY DATES 11/23/2007-11/23/2007.” The customer dispute was settled for $4,326.44.
- February 2012 — “CLIENT ALLEGES MISREPRESENTATION REGARDING VARIABLE ANNUITY INVESTMENT. ACTIVITY DATES 02/15/2012-02/17/2012.” Damages of $8,768.04 were sought. The customer dispute was closed with no action.
- August 2011 — “CLIENT ALLEGES FAILURE TO FOLLOW INSTRUCTIONS REGARDING VARIABLE ANNUITY INVESTMENT. ACTIVITY DATES 05/25/2011-05/25/2011.” The customer dispute was settled for $28,883.00.
- July 2011 — “CLIENT ALLEGES FORGERY RELATED TO A VARIABLE ANNUITY. ACTIVITY DATES 05/28/2011-05/28/2011.” The customer dispute was denied.
- July 2011 — “CLIENT ALLEGES FORGERY RELATED TO A VARIABLE ANNUITY. ACTIVITY DATES 07/29/2011-07/29/2011.” The customer dispute was denied.
- July 2006 — “CUSTOMER ALLEGES FAILURE TO DISCLOSE FEES IN CONNECTION WITH THE SALE OF A MUTUAL FUND.” The customer dispute was settled for $10,052.69.
For a copy of Robert High’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.
In addition, to the extent a Financial Advisor converts client assets during the course and scope of his employment and/or registration with the brokerage firm, that brokerage firm may be held liable for any attendant losses.
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 firstname.lastname@example.org.