According to FINRA’s Disciplinary and Other FINRA Actions publication, Kwen Young Chun (CRD #3136403) of New Jersey, was barred by FINRA for allegedly converting approximately $201,144 from client accounts, which he then used for his personal use and benefit.
Allegations stated that between 2010 and 2013 Chun made nine (9) unauthorized disbursements from a Customer’s MetLife Variable Annuity and MetLife Insurance Policy. Allegedly, Chun forged the Customer’s name on withdrawal forms, and also requested two (2) loans from the Customer’s MetLife Insurance Policy, which were all conducted without the knowledge or consent of the customer. Allegations further stated that Chun then opened an account in the customer’s name without the customer’s authorization, made himself beneficiary, and directed the funds to the account by using electronic funds transfer and direct deposit. As a result of such misconduct, Chun was in direct violation of FINRA rules. (See FINRA AWC No. 2014041664801)
According to FINRA’s Broker Check, Kwen Young Chun has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Chun was registered in the securities industry for fifteen (15) years, and was registered with the following firm(s):
METLIFE SECURITIES INC.
11/1998 – 07/2014
METROPOLITAN LIFE INSURANCE COMPANY
LAKE SUCCESS, NY
11/1998 – 07/2007
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