FINRA slammed Fidelity Brokerage Services with a $500,000 fine and ordered it to pay nearly $530,000 in restitution for failing to detect the theft of more than $1 million from nine of its customers by a woman posing to be a Fidelity broker.
Lisa Lewis obtained her victims' personal information and systematically stole customer assets through numerous transfers and debit-card transactions. Eight of the nine victims were senior citizens. Lewis pleaded guilty to wire fraud in June 2014 and was sentenced to 15 years in prison and ordered to pay more than $2 million in restitution to her victims.
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