In the Matter of Avinesh K. Shankar

Avinesh K. Shankar appears to have converted funds from his member firm by allegedly forging customer signatures on annuity applications and submitting them to the firm to receive advanced commission payments. According to FINRA, the firm paid advanced commissions totaling $511,609.74 to Shankar based on the forged applications, to which he was not entitled, and the annuities were never funded.

Summary generated from official Financial Industry Regulatory Authority press release