As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions June 2010, Michael Patrick Maser was barred from association with any FINRA member in any capacity. It is alleged that Mr. Harwell, without the customers’ knowledge, permission or authority, deposited the funds into bank accounts he opened in each of their names. The findings also stated that he created passwords for the accounts which he used to instruct the bank to issue a $23,800 check payable to himself at his home address and to have the bank make monthly payments to each of the customers that were equivalent to the payments they would have received had he purchased the annuities for them.

The complete article can be found at the Financial Industry Regulatory Authority.