Raymond James Broker Frederick Stow Charged with Fraud After $943,500 IRA Theft

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SEC officials announced fraud charges against Raymond James & Associates broker Frederick Markley Stow, accusing Stow of defrauding two seniors, including a deceased World War II-era veteran, out of nearly $1 million through unauthorized sales from retirement accounts, including IRAs.

The complaint charges Frederick Stow (CRD #864436) with misappropriating funds by transferring proceeds from the unauthorized sale of the elderly veteran's securities to Stow's personal bank account using falsified wire transfer forms.

Stow also allegedly visited this senior investor at his home while he required full-time nursing care and "inserted himself into the personal and financial affairs of" his elderly customer.

After his 98-year-old client at Raymond James died in 2019, Stow then allegedly turned his attention to another senior citizen customer at the firm, stealing more money from that client by wiring money from this second elder's brokerage account to Stow's own bank account without authorization.

In charging Stow with the $943,500 fraud, SEC representatives warned about scams and fraudulent schemes targeting seniors: "Stow took advantage of these seniors, abusing his access to their brokerage accounts to generate income for himself."

Stow purportedly confessed to his supervisor at Raymond James that he had stolen money from the deceased client's accounts.

Raymond James & Associates terminated Stow's employment in May 2019 for misappropriating funds from investor accounts, and the estate of Stow's former customer filed a dispute in June 2019, claiming misappropriation and damages totalling $911,500.

FINRA barred Stow in January 2020 after he failed to request termination of a suspension FINRA previously imposed.

If you or a loved one invested with ex-Raymond James & Associates broker Frederick Markley Stow or with any financial adviser or representative who misappropriated funds, executed unauthorized wire transfers, or otherwise defrauded you and caused damages, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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