Finra Complaint Alleges Broker Took Advantage Of Client With Alzheimer’s

An Arizona broker took advantage of a client who had Alzheimer’s according to a complaint filed by The Financial Industry Regulatory Authority Inc. The client, who may have lacked mental capacity, is known only by the initials ‘JL.’  The complaint alleges that in 2009 John Waszolek convinced the 81 year old JL to name him as a beneficiary of $1.8 million taken from a trust.  The incident was brought to light when a bank refused to distribute funds from the trust without approval from Morgan Stanley, which was the firm that he worked for. 

See Mason Braswell, Finra files complaint against broker for trying to inherit $1.8M from client with Alzheimer’s, Investment News, June 12, 2015.