Karamian submitted a Letter of Acceptance,Waiver and Consent in which he was barred from association with any FINRA member in any capacity.  Without admitting or denying the findings, Karamian consented to the described sanction and to the entry of findings that he changed the address of record for a customer’s brokerage account to the branch address of the firm office where he worked without the customer’s knowledge, authorization and consent. The findings stated that Karamian sent, via facsimile, a letter of authorization to his member firm’s cashiering department requesting a wire transfer of $281,768 from the customer’s brokerage account to a third party escrow account at a bank without the customer’s knowledge, authorization and consent. The findings also stated that Karamian had the customer sign the letter of authorization for the withdrawal of these funds, knowing that the customer had not read the letter and did not knowingly authorize or consent to the request to transfer funds out of his account. The findings also included that through a series of financial transactions, Karamian caused $261,000 of the funds transferred to be deposited into a bank account he controlled and the customer had not authorized the transfer.

(FINRA Case #2007010029301)