Broker Mohammed A. Salim Barred for Transferring Customer Funds to His Own Creditors
The Financial Industry Regulatory Authority (FINRA) has permanently barred broker Mohammed A. Salim (CRD #7126671) from associating with any FINRA member firm after allegations surfaced that he improperly transferred funds from a client’s account to cover his personal debts.
At the time of the alleged misconduct, Salim was employed by Morgan Stanley in Deer Park, New York. The firm terminated his registration after identifying concerns involving unauthorized sales and fund transfers from a customer’s account.
According to FINRA’s findings, Salim initially cooperated with investigators but later failed to appear for on-the-record testimony, violating FINRA Rule 8210, which requires brokers to provide information and testimony when requested. Though he did not admit or deny the allegations, his failure to comply resulted in a permanent bar from the securities industry.
Alleged Misuse of Customer Funds
The accusations against Salim involve serious breaches of trust, including the use of client funds for personal benefit—a clear violation of both FINRA regulations and fiduciary duty standards. Such conduct can have devastating financial and emotional consequences for investors who rely on brokers to act in their best interests.
Investor Vigilance and Firm Responsibility
FINRA has encouraged member firms to adopt stronger internal controls to detect and prevent misconduct, including unauthorized transfers and third-party payments. Regular audits, supervisory reviews, and real-time monitoring of transactions can reduce the risk of financial exploitation.
Investors should also take proactive steps by reviewing their account statements regularly and reporting any unexplained activity or discrepancies immediately.
Silver Miller Holds Brokers Accountable
If you invested with Mohammed A. Salim or Morgan Stanley and believe your funds were mishandled, you may have grounds for legal action.
Silver Miller represents investors nationwide in cases involving broker fraud, misappropriation of funds, and financial advisor misconduct. Our attorneys help victims pursue recovery through FINRA arbitration and civil litigation.
Contact Silver Miller to discuss your situation in a free, confidential consultation. We work on a contingency fee basis, meaning you don’t pay unless we recover for you.
