According to FINRA, John Rollin Revelle (CRD #5619752), a registered representative based in Jacksonville, Florida, was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for 10 months. Revelle was found in violation of FINRA rules for drafting and disseminating materially misleading asset verification letters and for failing to disclose an outside business activity (OBA) to his member firm.

FINRA's findings revealed that Revelle drafted, signed, and disseminated asset verification letters on his member firm's letterhead to third parties. These letters contained material misrepresentations, including incorrectly stating that the individual on whose behalf the letters were sent was a customer of the firm. One of the letters materially overstated the value of the individual's assets, including cryptocurrency assets, and falsely stated that Revelle had verified those assets when he had not actually done so. Revelle did not obtain his firm's approval before sending these letters. Using a firm's letterhead to lend credibility to false statements is a serious violation that can expose both the firm and unsuspecting third parties to significant harm.

In addition to the fraudulent letters, FINRA found that Revelle engaged in an outside business activity that he failed to disclose to his firm. Specifically, Revelle was employed by a start-up decentralized cryptocurrency exchange to assist in processing investments. He earned more than $29,000 from this undisclosed activity. FINRA rules require registered representatives to provide prior written notice to their firms of any outside business activities so that firms can evaluate potential conflicts of interest and supervise their representatives appropriately.

Without admitting or denying the findings, Revelle consented to the sanctions through an AWC agreement issued on August 5, 2024. The 10-month suspension was in effect from August 5, 2024, through June 4, 2025, reflecting the seriousness of the misconduct. This matter is documented under FINRA Case #2022076194201.

This case underscores several important lessons for investors. First, investors should be wary of any documents presented on a brokerage firm's letterhead and should independently verify their authenticity with the firm itself. Second, the involvement of a registered representative in undisclosed cryptocurrency-related business activities raises significant conflict-of-interest concerns. Investors should always verify whether their broker has any outside business activities by checking their FINRA BrokerCheck report. The combination of fabricating official documents and concealing outside employment demonstrates a pattern of dishonesty that should serve as a serious warning to any investor considering working with this individual.