Alex Marinello, counsel for the FINRA Division of Enforcement, signed the letter on Thursday.
On Oct. 6, 2022, Raymond James filed a Type U5 reporting that Breslin had been discharged for “initiating unfunded ACH transfers to [his] private account” and “preliminary lack of candor concerning identical.”
In October 2022, Breslin turned a registered rep for B. Riley Wealth Administration. On March 2, 2023, B. Riley filed a Type U5 reporting that Breslin had been discharged for “fail[ing] to cooperate with FINRA inquiry and current[ing] falsified paperwork in response.”
“From December 2022 to June 2023, Breslin supplied falsified checking account statements and checks to FINRA in response to a request for paperwork made pursuant to FINRA Rule 8210,” the AWC letter stated.
Breslin additionally made false statements to FINRA in response to a request for data and made false statements to the regulator in testimony it requested, in accordance with FINRA.
Because of his conduct, Breslin violated FINRA Guidelines 8210 and 2010.
In December 2022, FINRA despatched Breslin a letter, requesting data in regards to the allegations made by Raymond James in October. In his response, Breslin acknowledged he had traveled together with his brother and a good friend and every of these people wrote him a examine for $5,000 to reimburse him for bills on the journey.
Breslin claimed he deposited each checks into his checking account however each checks bounced when he deposited them. “Breslin’s statements to FINRA have been false as a result of he didn’t obtain or deposit a $5,000 examine from his brother or good friend through the related interval of the request,” in accordance with FINRA.
In January 2023, FINRA despatched Breslin one other letter, requesting he present copies of the checks he referenced in his earlier response and establish the corresponding examine deposits on his checking account statements.
In response, Breslin supplied three falsified checks: a $5,000 examine from his brother; a $5,000 examine from his good friend, dated July 14, 2022, and one other $5,000 examine from his good friend, dated July 28, 2022, which purportedly changed the prior $5,000 from his good friend that bounced,” the regulator alleged.
“On the examine from Breslin’s brother, Breslin altered the date and quantity of the examine and eliminated any identifiable data associated to the examine’s deposit,” FINRA alleged. “For the checks from Breslin’s good friend, Breslin altered the quantity and date of the examine dated July 14, 2022, and altered the quantity, date, and deposit variety of the examine dated July 28, 2022. Breslin additionally supplied a falsified copy of his checking account assertion, itemizing deposits of the falsified checks. Particularly, Breslin inserted the three $5,000 deposits into the account statements, however the steadiness in Breslin’s account didn’t change.”
On the morning of his testimony, Breslin supplied FINRA one other falsified model of his checking account statements, the regulator alleged. “This time, Breslin altered his account statements to inflate the working balances listed on the statements to falsely replicate deposits of the $5,000 checks he purportedly obtained from his brother and good friend,” in accordance with FINRA.
Breslin additionally supplied false testimony by claiming he obtained and deposited checks from his brother and good friend and that he submitted real checking account statements and checks to FINRA, in accordance with the regulator.
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