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FINRA Bars Former UBS Broker John Maccoll for Evading Investigation Over Alleged Multi-million Dollar Fraud Scheme

Former UBS Financial Services Inc. broker John Maccoll was permanently barred from the securities industry by FINRA in July 2018.

According to his BrokerCheck report, Maccoll was employed with UBS Financial Services Inc. from January 2006 to March 2018. He was terminated from the Birmingham-based firm when he failed to cooperate with an internal investigation into allegations that he misappropriated client funds. Maccoll later disclosed that he had misappropriated funds from 13 customers, according to the regulatory disclosures on his BrokerCheck report.

The SEC also filed a civil complaint against Maccoll in August 2018, alleging that between April 2010 and March 2018, Maccoll used high-pressure tactics to convince at least 15 investors to write checks or wire transfer money to his personal accounts so they could take advantage of special investment vehicles that were not available through UBS. According to the SEC, to entice the clients to invest, Voss claimed it would generate 20% in annual returns. However, instead of investing the client funds, Maccoll allegedly stole the money and used it for personal expenses and paid other clients an estimated $400,000 in a Ponzi scheme.

Maccoll was barred by FINRA after failing to respond to their request for information regarding the allegations against him. In addition, criminal charges were filed against him with the U.S. Attorney's Office for the Eastern District of Michigan. Prior to becoming barred, Maccoll worked in the securities industry for 40 years and held positions at five different firms.

Did You Suffer Financial Losses While Working with John Maccoll?

If you lost money while investing with John Maccoll, Meyer Wilson would like to speak with you. You may be able to recover some or all of your losses. Give our office a call today at (800) 738-1960 to speak to an experienced investment fraud attorney.

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The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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