A former J.P. Morgan rep was barred from the industry on Monday for allegedly using an unauthorized ATM card to withdraw $1,000 from a bank customer's account, according to his settlement with FINRA.
Rafael Enrique Febus, Jr., a Series 6 rep with J.P. Morgan in New York, used the funds to pay for his own personal expenses without the customer's knowledge or consent, FINRA claimed. He allegedly issued the unauthorized card himself.
Febus could not be reached for comment. In his settlement with FINRA, he neither admitted nor denied the allegations.
Febus worked for both J.P. Morgan Chase Bank and J.P. Morgan Securities from January 2015 to March 2017, when he was discharged for the purported wrongdoing, according to BrokerCheck records.
Elizabeth Seymour, a spokeswoman for J.P. Morgan Chase Bank, declined to comment on the matter.
Febus joins at least 20 other bank reps who were expelled from the industry this year for alleged misconduct ranging from churning to outright theft. Five of the 20 were with J.P. Morgan, including Chaz Thomas Partosan, a rep who purportedly stole $1,000 from bank customers by illicitly using their ATM cards.
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