Instead of beemers and yachts, this allegedly duplicitous Wall Streeter spent investors’ money on tattoos, firearms and motorcycles.
The Financial Industry Regulatory Authority yesterday took action against George Carris, head of brokerage firm John Carris Investments, for allegedly misspending the Wall Street firm’s money on odd-ball purchases like tattoos parlors.
According to a legal complaint filed by Finra, Carris allegedly charged his firm, located at 40 Wall Street, $600,000 in business expenses that were really personal expenses.
They included a whopping $10,554 for purchases at a tattoo parlor, $5,987 for pet care, and $5,317 for motorcycle expenses that Carris improperly labeled as “business gifts,” Finra said.
Carris marked another $39,041 as “entertainment expenses” even though they included $6,790 for “firearms-related expenses,” and $3,226 for “purchases at alcohol retailers,” Finra said.
Carris also fraudulently sold stock and notes in Invictus Capital, the parent company of John Carris Investments, Finra said. The brokerage also allegedly sold house shares of Fibrocell Sciences while simultaneously pushing the stock on clients.