Country Capital Broker Barred For Converting Funds and Fabricating Account Statements
Daniel P. Glavin, a Country Capital Management Company (Country Capital) investor, from Orland Park Illinois, submitted an Acceptance Waiver and Consent (AWC), to settle, without admitting or denying the findings that he violated Financial Industry Regulatory Authority (FINRA) Rule 2010. In the AWC, FINRA found that Mr. Glavin converted customer funds and fabricated account statements. As a result, Mr. Glavin was permanently barred from any association with any FINRA member firm. According to FINRA, while Mr. Glavin was registered with Country Capital, one of his customers gave him approximately $45,000 to invest in certificates of deposit. FINRA further alleged that the purported certificates Mr. Glavin recommended his customer invest in did not actually exist. FINRA alleged that Mr. Glavin did not use his customer’s funds to purchase any certificates of deposit. Instead, FINRA claims Mr. Glavin converted the customer’s funds for his personal use and benefit. As part of his scheme, Mr. Glavin allegedly fabricated account statements to mislead the customer. According to FINRA, Mr. Glavin eventually returned the funds, but only after several demands made by the customer.
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