Former Boutique Broker Barred for Misappropriating $1M in Client Funds

Posted on October 17th, 2014 at 9:51 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

FINRA barred Eric William Johnson, a former registered broker from a Chicago-based boutique brokerage firm, RedRidge Securities, for stealing money from his customers’ accounts and depositing the money into his own personal accounts.

From December 2006 to September 2013, Johnson misappropriated over $1 million from client accounts at the brokerage. Johnson made at least 60 wire transfers from their accounts into his own, faking the signatures of the firm’s principal and notary public.

According to FINRA Broker Check records, Johnson was fired the day the firm discovered the transfers by way of the firm’s internal compliance system.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston


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