Shellie Lin Newton (CRD # 2630770, Registered Supervisor, Trenton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Newton consented to the described sanction and to the entry of findings that she used her position as an operations manager to misappropriate more than $10,000 from her member firm. The findings stated that Newton entered false deposit amounts into her brokerage account at her firm, thereby creating artificial balances in the account, transferred money from the brokerage account to her personal checking account, and used the funds for personal purposes. The findings also stated that, in an attempt to conceal the false deposits, Newton deposited checks into her brokerage account and made an online transfer knowing at the time that her checking account lacked funds to cover the checks, and used an ATM to intentionally enter an amount to be deposited that was greater than the check included with the deposit. The findings also included that Newton, by knowingly entering fictitious deposit amounts into her brokerage account at her firm, created artificial balances in it and caused her firm’s books and records to be false. (FINRA Case # 2008014143701)

We take cases on a purely contingency fee basis against brokerage firms who employ brokers committing misconduct of this nature. Please contact us for a free evaluation.