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JP Morgan's Kirk Eric Archibald and Michael Linfeng Zheng Barred for Unauthorized Conversion of Customer Funds

FINRA barred former JP Morgan Securities brokers Kirk Eric Archibald and Michael Linfeng Zheng for allegedly engaging in unauthorized transactions and money transfers using customer debit and ATM cards without the affected customers' knowledge or consent.

FINRA Case #20140399883 (Archibald)

FINRA Case #2014040218501 (Zheng)

Archibald allegedly created unauthorized bank ATM cards associated with several customer accounts and used the fake cards to engage in transfer activity that resulted in a total loss of $19,150.

FINRA's BrokerCheck report for Archibald additionally states that he began the misconduct by accessing customer bank accounts and, days later, used the unauthorized ATM cards on those accounts.

Archibald failed to provide documents at the request of FINRA investigators as required by FINRA rule and thus received an industry ban in addition to termination from JP Morgan.

Zheng consented to the findings that he took a customer's unattended debit card from a branch's back office and programmed a new PIN on a co-worker's unlocked computer to withdraw $404 from the account without permission, knowledge or consent, thus converting the funds for personal use.

He, too, received a bar and discharge, but unlike Archibald, he "admitted" to JP Morgan the perpetration of the aforementioned misconduct.

If you have invested with Kirk Eric Archibald or Michael Linfeng Zheng or with any broker, adviser or firm whose unauthorized access of your bank or investment accounts have proven harmful to your financial interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

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