FINRA on Monday barred a former Citizens Bank rep for allegedly taking more than $1,500 from the bank's cash drawer.
John Kenneth Lawrence Glover, a licensed banker who worked for Citizens in Livonia, Michigan, stole the money over a three-month period beginning on New Year's Eve last year, FINRA claimed in its settlement with Glover.
Glover removed cash on six occasions, taking anywhere from $30 to $700 each time, the regulator charged. In total, he took $1,535, which he purportedly used for his personal benefit, according to FINRA.
Glover could not be reached for comment. In his settlement with FINRA, he neither admitted nor denied the charges but consented to an entry of the regulator's findings.
Glover joined Citizens Securities as a Series 6 rep in March 2016, FINRA said. He was discharged in March 2017 following a bank investigation indicating that he had stolen the money in his role as a banker, BrokerCheck records show.
Prior to Citizens, Glover had been with J.P. Morgan Chase Bank for four years, according to BrokerCheck.
Citizens did not respond to requests for comment.
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access