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Ex-JPMorgan Broker Accused of Bilking Grandma Gets Trading Ban

  • Evan Schottenstein refused to comply with watchdog probe
  • Adviser allegedly ripped off his wealthy grandma for fees
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At 93, She Waged War on JPMorgan and Her Own Grandsons

A former JPMorgan Chase & Co. financial adviser accused of trading his wealthy grandmother’s assets without her knowledge has been barred from working as a broker by the industry’s watchdog, according to information on the Financial Industry Regulatory Authority’s website.

Evan Schottenstein, without admitting or denying the findings, agreed to the sanction after Finra concluded he wasn’t complying with its investigation into whether he committed misconduct while managing about $80 million for Beverley Schottenstein when she was a client of JPMorgan for nearly five years.