The Frankowski Firm is investigating potential claims against terminated broker Jeffrey Palish Wells Fargo, of Woodcliff Lake, New Jersey, following Mr. Palish’s arrest and termination from the securities industry on charges that he stole at least $600,000 from elderly clients over four years.
According to the story published at northjersey.com, Mr. Palish is believed to have borrowed $100,000 from two of his clients, failed to report the loan to his employer, and failed to make payments on the loan.
Moreover, Mr. Palish allegedly stole money from his clients by converting their stock holdings, which he sold and the money placed into a separate bank through checks written by his clients. Palish is also accused of completing approximately 40 unauthorized wire transfers to make payments on his personal credit card, totaling $300,000.
If you or someone you know lost money as a client of Jeffrey Palish or Wells Fargo due to unsuitable, misrepresented, or unauthorized transactions, please call the Frankowski Firm at 888.741.7503 or fill out this contact form.