FINRA Takes Action Against StateTrust Investments

FINRA announced that it sanctioned StateTrust Investments, as well as its head trader and chief compliance officer, for allegedly charging excessive markups and markdowns in fraudulent corporate bond transactions and for distributing a prospectus that deceived investors as to conflicts of interest involving an affiliated mutual fund.

See: FINRA News Release. See also: StateTrust Investments, Inc. and Jose Luis Turnes Letter of Acceptance, Waiver, and Consent.