A former registered rep with JP Morgan Securities was barred from the industry last month for allegedly cashing a $12,000 third-party check that was later found to have been stolen and the payee's endorsement forged.

According to FINRA records, Matthew Gerard Perry was approached by an acquaintance to deposit the check—in the amount of $12,017.90 and made payable to a person unknown to Perry—on Nov. 9, 2013. Perry allegedly was asked to deposit the check into his personal account and withdraw the funds as a favor for his friend's friend who purportedly didn't have a bank account.  FINRA claims that Perry was told that he could keep $500 for conducting the transaction.

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