FINRA banished a former Wells Fargo adviser from the brokerage industry this week for allegedly depositing an elderly client's checks in his own account, the regulator said.

Brendan John Osweiler, a registered rep with Wells Fargo Advisors in Indianapolis, allegedly deposited the client's $1,366 dividend check into his personal bank account and then attempted but failed to do the same with an $8,230 check the client received from an insurance company, according to FINRA's filing.

The client had given Osweiler both checks to deposit into her Wells Fargo brokerage account, FINRA said, but instead he deposited the first check into his account at another bank. A few weeks later, he attempted to do the same with the second check, but that bank became suspicious and refused the deposit.

Wells Fargo Advisors discharged Osweiler on June 17, two months after the beginning of the alleged misconduct, FINRA said.

Osweiler neither admitted nor denied the charges but consented to an entry of the regulator's findings, which detailed the accusations. He did not respond to an email sent to him via BrightScope Advisor Pages, an online directory of financial advisers. Other efforts to reach him were unsuccessful.

Emily Acquisto, a spokeswoman for Wells Fargo Advisors, declined to comment.

Editor's Note: This story was revised to better reflect the actions taken by FINRA.

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