Marc K. Ferguson is currently employed as a Broker and/or Investment Adviser at EDWARD JONES located at 1015 U.S. 23 NORTH SUITE 1, ALPENA, MI, 49707.
Marc K. Ferguson has worked at EDWARD JONES since December 03, 1996
Marc K. Ferguson has 1 Disclosure Event(s).
Date: October 10, 2007 Category: Customer Dispute Allegations: ATTORNEY FOR THE CLIENT ALLEGES INSTRUCTIONS WERE ACCEPTED FROM THE CLIENT'S HUSBAND TO LIQUIDATE AND DISTRIBUTE FUNDS. ATTORNEY FURTHER ALLEGES THAT THE HUSBAND INTERCEPTED THE CHECK AND THE CLIENT'S ENDORSEMENT WAS FORGED. ATTORNEY STATES THE CLIENT DID NOT RECEIVE THE FUNDS AND WILL NOW OWE TAXES ON THE DISTRIBUTION. ATTORNEY REQUESTS RESTITUTION AND RESTORATION OF THE ACCOUNT TO IT'S ORIGINAL POSITION. CLAIM IS MORE THAN $5,000.00. Damage Amount Requested: $5,000.00 Broker Comment: OUR RECORDS REFLECT MUTUAL FUNDS HELD IN THE ACCOUNT WERE SOLD ON JUNE 7, 2007. A CHECK IN THE AMOUNT OF $24,898.53 WAS ISSUED FROM THE ACCOUNT ON JUNE 12, 2007. THE CHECK WAS MADE PAYABLE TO THE CLIENT AND WAS MAILED TO THE ADDRESS OF RECORD. APPARENTLY, IT WAS NOT UNTIL JULY 2007 THAT THE FA WAS INFORMED OF THE DIVORCE. IN ADDITION, IT APPEARS THE CLIENT DID NOT UPDATE THE ADDRESS OF RECORD FOR THE ACCOUNT UNTIL OCTOBER 16, 2007. AT THE TIME OF THE MUTUAL FUND TRADES, CONFIRMATIONS WOULD HAVE BEEN MAILED TO THE ADDRESS OF RECORD THAT PROVIDED DETAILS OF THE TRANSACTIONS. IN ADDITION, THE CLIENT HAS RECEIVED STATEMENTS WHICH PROVIDE INFORMATION REGARDING THE INVESTMENTS HELD IN THE ACCOUNT AS WELL AS REFLECTING ACCOUNT ACTIVITY. FURTHERMORE, THE CHECK WAS MADE PAYABLE TO THE CLIENT AND WAS MAILED TO THE ADDRESS OF RECORD. IT WAS NOT UNTIL RECEIPT OF THE ATTORNEY'S CORRESPONDENCE DATED OCTOBER 9, 2007 THAT THE HOME OFFICE WAS AWARE OF THE FORGED ENDORSEMENT. IT IS MY UNDERSTANDING THE CLIENT'S HUSBAND HAS INDICATED THE FUNDS WERE DEPOSITED INTO A JOINT ACCOUNT; HOWEVER, WE CAN ATTEMPT TO CLAIM THE FUNDS THROUGH THE BANKING SYSTEM. REQUESTED THAT THE ATTORNEY COMPLETED THE AFFIDAVIT OF FORGED ENDORSEMENT AND RETURN IT TO ME. DID NOT RECEIVE A RESPONSE AND DID NOT RECEIVE EXECUTED AFFIDAVIT OF FORGERY; THEREFORE, THE FILE HAS BEEN CLOSED.
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