NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Thomas Michael Kinser
2009017466201

Kinser converted approximately $330,000 in customer’s funds. Kinser called the mutual fund company through which he had invested customer’s funds to change the address on the account from the customer’s residential address to Kinser’s office address. At Kinser’s request, the mutual fund company sent redemption checks drawn on the customer’s account to Kinser without the customer’s knowledge, consent or authorization, and Kinser forged the customer’s signature on the checks, endorsed them to make them payable to him and deposited the funds in his own account. In order to conceal the conversions, Kinser fabricated account summaries and documents, including charts and statements purporting to reflect the customer’s account balance, which he presented to the customer in periodic meetings, misleading the customer into believing all of his money was still invested in mutual funds and was still earning interest. Kinser failed to respond to FINRA requests for information and documents.

Thomas Michael Kinser: Barred

Tags: Forgery  Mutual Funds