In a default decision, FINRA barred former LPL Financial, LLC broker Jon Patrick Horvath for an alleged misappropriation of funds, failure to appear for testimony for FINRA's investigation and for failure to disclose tax liens in a timely manner.
Disciplinary Proceeding #2011027352701
Registered as a general securities representative, state securities agent and investment advisor, Horvath allegedly converted funds in violation of FINRA's "just and equitable" conduct rule by fraudulently altering a personal check for $1,000 which was made payable to LPL, and filing a false expense reimbursement request with LPL.
According to the investigation, instead of presenting the check to LPL, Horvath altered the check to make it payable to "JP Horvath," depositing the check into his business checking account on behalf of both LPL Financial and "JP Horvath & Associates."
When the check's issuer became aware of this misconduct, he complained to LPL, which subsequently terminated Horvath's employment for violating LPL reimbursement policies and procedures.
When drawing a check or engaging in similar business with a firm, it is often wise to follow the transaction to its completion through a bank or otherwise.
If you have invested with Jon Patrick Horvath, LPL Financial or with another broker or firm who you suspected has misappropriated funds through fraudulent means and such misconduct has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.