FINRA barred Fernando Arevalo and Jimmy Caballero from the industry for stealing $300,000 from an elderly widow with diminished mental capacity, and for failing to fully cooperate with agencys investigation.
Arevalo and Caballero, who were brokers at JPMorgan Chase Securities, could not be reached for comment. JPMorgan, which declined to comment, was not part of the enforcement action, according to FINRA. The agency also said JPMorgan reimbursed the elderly customer for the money.
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