A former Wells Fargo advisor was banished from the industry for refusing to cooperate with a FINRA investigation into wire activity in the advisor's bank account.

Mark Peter Koestner, an advisor with Wells Fargo in Naples, Fla., allegedly turned down FINRA's request to appear for an on-the-record interview, a decision that automatically leads to getting barred. 

FINRA was looking into allegations that Koestner engaged in a private securities transaction or an outside business activity that was not approved, the regulator said in a filing.

Koestner resigned from Wells Fargo in July 2014 amid an internal review of wire activity in his bank account to and from a law firm in Panama.  The firm later concluded that it appeared that he had wired funds to the law firm to participate in an unapproved private securities transaction, FINRA said in the filing.

Koestner joined Wells Fargo in May 2009 from Wachovia Securities, according to FINRA BrokerCheck records.  He had been with Wachovia since June 2003.  Koestner was barred on April 15.

Koestner did not return a voice message seeking comment.  In his settlement with FINRA, he neither admitted nor denied the charges but consented to an entry of FINRA's findings.

His attorney, Victor Bayata of law firm Vernon Litigation Group in Naples, Fla., did not respond to voice and email messages.

Anthony Mattera, a spokesman for Wells Fargo, declined to comment on the matter.

Koesnter is the second bank advisor to be barred this year for failing to cooperate with FINRA investigations. Kenneth Lynn Miller, a former broker with First Tennessee Bank, refused to provide the regulator with the documents and information it requested to investigate whether he stole money from retail bank customers.

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