Former financial advisor Gerald Eaton has been allegedly barred for fraudulently facilitating distributions from his clients’ accounts without their knowledge or consent, according to publicly released records by the Financial Industry Regulatory Authority (FINRA). An investigation started last year into whether Eaton converted $3.7 M in customer fraud, and whether he failed to provide documents and information requested by FINRA, according to public records under review by investor rights attorney Alan Rosca.
Investor rights attorneys Alan Rosca and Paul Scarlato of the Rosca Scarlato LLC law firm, often represent investors who have been victims of fraud or broker misconduct, and they are investigating conduct in relation to the alleged disciplinary proceedings of Gerald Eaton for misappropriation of client funds among others by FINRA. Investors who believe they suffered losses from former Commonwealth Financial Network advisor Gerald Eaton may request a free consultation with an experienced investor rights attorney at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this page.
Gerald Eaton Indicted For Similar Allegations
According to a press release by the U.S. Attorney’s Office for the District of Massachusetts, Gerald Allan Eaton allegedly carried out his scheme in multiple ways and has pleaded guilty for one count of wire fraud, one count of mail fraud, and one count of aggravated identity theft on September 1, 2020.
Reportedly, Gerald Eaton perpetrated a scheme to steal more than 3.7 million from 15 clients working as a financial planner under the name Heritage Financial Group. According to records under the review of Alan Rosca, between 1999 and 2019, Eaton made numerous unauthorized transactions from the victim’s accounts by submitting falsifying internal bank authorization forms, forging signatures, and convincing clients to sign documents that he said would be of their best interest financially. Allegedly, Eaton‘s clients trusted him to make transactions in their best interest without prior approval. The U.S. Attorney’s Office for the District of Massachusetts reports that Eaton often misappropriated funds in accounts of clients who were elderly, and/or in poor physical or mental health.
Gerald Eaton investors are encouraged to contact Alan Rosca or his colleagues for a free case evaluation to discuss potential recovery options. Call 888-998-0530, email arosca@rscounsel.law, or fill out the contact form on this page to learn more.
Gerald Eaton Was A Registered Broker since October 1992
According to his FINRA brokercheck page, Gerald Eaton was previously registered with John Hancock Distributors, INC., and John Hancock Mutual Life Insurance Company from October 1992 until March 1995. From March 1995 until November 2019, Eaton was registered with the Commonwealth Financial Network until there were activities leading to an investigation open against him by FINRA.
According to public records released by (FINRA), Gerald Eaton was terminated by the Commonwealth Financial Network on October 28, 2019 for allegedly engaging in “forgery, wrongful taking of property.”
Gerald Eaton was Previously Barred by FINRA
According to the FINRA Letter of Acceptance, Waiver and Consent signed by former Commonwealth Financial advisor Gerald Eaton on November 12, 2019, FINRA commended investigating Eaton once the Form U5 was filed by his former employer, Commonwealth Financial Network. FINRA reported that Eaton failed to provide documents and information requested by FINRA during the investigation. According to the AWC, the Form U5 filed in November 2019 states that Eaton was terminated because “he fraudulently facilitated distributions from the accounts of clients without their knowledge or consent or for their benefit.”
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Invested with Gerald Eaton and Suffered Losses? Talk to an Investor Rights Advocate About Your Recovery Options.
Investor rights attorneys at Rosca Scarlato have extensive experience in fighting for recovering losses on behalf of broker misconduct victims. Investor rights advocate Alan Rosca is currently investigating the allegations involving Gerald Eaton, and together with his colleagues is preparing to take action and seek compensation for any harmed investors.
Investors of Gerald Eaton are encouraged to contact Rosca Scarlato for a free evaluation of their case, to learn about their rights, or to provide useful information. All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, and only get paid for their fees and expenses if and when they recover money for their clients. If there is no recovery, no fees or expenses are charged. Investors who are concerned they may have lost money as a result of alleged misappropriation of funds involving Gerald Eaton, may contact attorney Alan Rosca or his colleagues at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
