A former J.P. Morgan Securities broker was ordered to pay the firm back for an outstanding recruiting loan balance, Financial Advisor reported.
A Financial Industry Regulatory Authority arbitrator made the decision in the case of Eugene F. Bartley of White Plains, N.Y. who worked for J.P. Morgan from January 2018 to January 2022.
He was fired by the firm for what was reported as “overall job performance,” and was then suspended by FINRA over allegations that he “failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance,” according to his BrokerCheck record.
In the recent award ruling, a sole FINRA public arbitrator ordered Bartley to pay nearly $1.4 million in compensatory damages to J.P. Morgan over the unpaid loan balance, and held him liable for 9% annual interest on the amount until it’s paid in full, as well as almost $47,000 in attorney’s fees and costs.
J.P. Morgan had filed a statement of claim in April accusing Bartley of breach of contract and requested that he repay $1,193,143.24, plus interest in the amount of $128,207.01 calculated to April 4, 2025. Bartley denied the bank’s claims “in their entirety.”
Bartley, who is no longer registered as a broker or investment advisor, could not be reached for comment, and his attorney, Jon-Jorge Aras with Aras Law in Philadelphia, did not respond to a telephone inquiry for comment, according to Financial Advisor..
Bartley is no longer registered as a broker or investment advisor.
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