Shannon Rowland Barred for Converting Funds for Personal Use

Attorney Advising Disclaimer

FINRA barred Shannon Marie Rowland aka Shannon Marie Brooks aka Shannon Marie Howey, a former variable contracts representative with State Farm VP Management Corp. in Tempe and Phoenix, Arizona, for converting customer and firm funds for personal use, and for willfully failing to update industry forms to report a civil judgment.

FINRA AWC #2014042783901

According to the findings, Rowland converted over $15,000 in customer funds and funds belonging to her employer, State Farm Insurance, by improperly using premium payments and money deposited into her insurance office's designated premium fund account for her personal use and benefit.

The report indicates that Rowland admitted that the insurance customer premium payments deposited into the premium fund account were property of State Farm and that she had no authority to withdraw or use the account funds for personal and non-work related use.

Investigators also found that Rowland willfully failed to report a civil judgment against her, causing the industry Form U4 to contain inaccurate, false, and materially misleading information.

Following its own internal review, State Farm concluded that Rowland inappropriately handled a firm account established for the deposit of customers' insurance premiums, and terminated Rowland's employment.

If you have invested with Shannon Marie Rowland/Brooks/Howey, or with State Farm of Tempe and Phoenix, AZ, or with any broker or financial adviser whose illicit mishandling of your money—such as willful or malicious conversion of your payments or investments for unauthorized personal use—has proven harmful to your financial interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • Investor Loses $300,000 in Unapproved Securities-Based Loan Strategy Read More
  • JP Morgan's Darren Ting Sanctioned for Unauthorized Discretionary Trading Read More
  • Benchmark Investments Ex-Broker Todd Anderson Barred After Disputed Signature, Unsuitable Recommendations Read More