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Broker Matthew Trulli Suspended for Illicit Borrowing of Nearly $200k in Customer Funds

FINRA suspended former Foothill Securities broker Matthew Trulli of Visalia, California for borrowing approximately $197,500 of firm customer funds in violation of firm and industry policy.

FINRA Case #201203204201

The findings state that independent of his securities career, Trulli owned and operated a winery, an outside business he properly reported to Foothill Securities at the time of his hire.

In 2007 and to finance the costs associated with winery business operations, Trulli allegedly borrowed $100,000 from Foothill Securities customers via promissory note with a maturity date of February 15, 2012. According to investigators, to date, the loan has not been fully repaid.

In 2008, 2009 and 2010, Trulli borrowed an additional $40,000, $50,000 and $7,500 from the same and different customers for similar winery-related expenses. All but the $7500 loan were memorialized in writing, but none have been repaid.

In 2008, Trulli completed a firm Outside Business Activity Reports questionnaire in which he allegedly responded "no" to the question, "Are you involved in any outside business relationships with clients, including but not limited to, the giving or receiving of loans?" In providing this information, Trulli falsely stated that he was in compliance with Foothill Securities policy, which prohibited representatives from participating in borrowing transactions with customers.

If you have invested with Matthew Trulli, Foothill Securities or with any broker, financial adviser or firm whose acceptance or solicitation of a personal or outside business-related loan has proven harmful to your investments or interests, for instance through non-repayment of funds, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
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Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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