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FINRA Broker Allegations

Allegations against: Timothy John Cleveland

Allegation type: Customer Dispute

Allegation status: Pending

The allegations read: The customer alleged the financial advisor, mr. Cleveland, took two unauthorized withdrawals totaling $25,000 from her account through margin and placed the funds in an office payroll account. At the time the withdrawals were made, the customer was a financial advisor and partner of mr. Cleveland. She alleged that she had approved prior loans from her account to the office payroll account but did not approve the two journals at issue.

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