Finra Expels WJB Capital, Bars Chief for Misstating Records
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The Financial Industry Regulatory Authority expelled WJB Capital Group Inc. for misstating financial records and barred the firm’s chief executive officer from the securities industry.
A Finra statement today cited events from 2009 through 2011 at New York-based WJB, which shut its brokerage in January. Craig Rothfeld, the CEO, and Chief Financial Officer Gregory Maleski misstated the firm’s finances on its balance sheet, including the conversion of $9.8 million in compensation for 28 employees to forgivable loans, Finra said.