Adorean Boleancu, a former Wells Fargo broker, has submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority (FINRA).

It alleges that from April 2008 to January 2010, while working at Wells Fargo, Boleancu issued unauthorized cheques of at least $650,000 from an elderly, widowed client, reports Forbes.

Worse, the client was an inexperienced investor who relied solely on Boleancu for financial advice.

As a result, FINRA has banned Boleancu from associating with any FINRA member, and he must pay $650,000 plus interest in restitution to the client, says Forbes.

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