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John Chrysadakis: Norwalk Broker Barred Over Forgery Allegations
Former Northwestern Mutual Investment Services broker John Chrysadakis (CRD# 5680661) was recently barred by the Financial Industry Regulatory Authority in connection to allegations he refused to cooperate with an investigation into allegations of fraudulent activity, including forgery of insurance forms.
According to a Letter of Acceptance, Waiver and Consent (No. 2018060563201) dated January 2020, John Chrysadakis was associated with Northwestern Mutual Investment Services as an Investment Company and Variable Contracts Products Representative from 2010 until April 2019, when the form disclosed that it had permitted him to resign while under investigation for allegations of fraudulent activity, which he denied. FINRA’s findings note that in May 2019, Fidelity Masonic Temple Association filed a complaint against him in state court in Connecticut, alleging that he converted about $100,000 of the company’s funds while he was its treasurer, between 2016 and 2019. As part of an investigation into these allegations, FINRA sent him a request on November 8, 2019 to produce documents and information. Chrysadakis informed FINRA via telephone call on November 22, 2019 that he was in receipt of its request but would not comply by producing documents or information. As a result of the alleged foregoing conduct, which FINRA states violated FINRA Rules 8210 and 2010, he was barred from associating with any FINRA member firm in any capacity.
John Chrysadakis’s BrokerCheck report lists one customer complaint against him. Filed in October 2018, the complaint alleged that as a representative of Northwestern Mutual Investment Services, he forged signatures on six Term Conversion Express documents, that is, documents requesting “requesting conversion of their non-variable term insurance to whole life insurance.” The complaint reached a settlement of $4,837.40; Chrysadakis denied signing the documents.
John Chrysadakis is currently not registered as a broker. His previous registrations include Northwestern Mutual Investment Services and Park Avenue Securities. He has passed three securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 14, 2020.)