Update For Investors With Ryan Lawson and US Bancorp

Recently, Ryan Sanford Lawson, a former broker with US Bancorp, was suspended from the industry for 30 days and fined $5,000 for impersonating an elderly customer in an attempt to move the customer’s retirement account from another bank. Allegedly, Lawson made two calls to the other bank, pretending to be the customer. He then made a transfer of $70,000 after meeting with the customer and his wife the day before. The money came from their retirement accounts at the other firm. The client couple claimed that “they were not aware of and did not authorize Lawson to impersonate them in order to effectuate the transfer.” This is against securities laws and US Bancorp may be responsible for losses because the bank did not properly supervise Mr. Lawson. Lawson is the second US Bancorp advisor to be sanctioned by the Financial Industry Regulatory Authority (FINRA) this year. Katherine Ann White was suspended for six months and fined $10,000 in June for allegedly borrowing $10,000 from a 69 year-old customer. She had worked in the Minneapolis, Minnesota branch.

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