According to FINRA, James Walter Kondrasuk was barred from association with any FINRA member in all capacities for refusing to produce information and documents requested during a FINRA investigation.

The investigation concerned an allegation that Kondrasuk sought to deposit a check in his brokerage account with his member firm that was signed by him and drawn on a non-existent bank account purportedly in his name. Attempting to deposit a check drawn on a non-existent account is a serious allegation that could constitute fraud or an attempted fraud.

FINRA's investigation sought to understand the circumstances surrounding this check, including how Kondrasuk obtained it, why he attempted to deposit it, whether he knew the account did not exist, and whether this was an isolated incident or part of a pattern. Kondrasuk's refusal to provide requested information and documents prevented FINRA from fully investigating this potentially criminal conduct.

Financial fraud and attempted fraud have no place in the securities industry. Individuals who may have engaged in such conduct pose significant risks to investors and must be removed from positions of trust. Kondrasuk's refusal to provide information about this serious allegation suggests he had something to hide.

Cooperation with regulatory investigations is a fundamental obligation of all registered persons. Those who refuse to provide information about serious allegations like potential fraud demonstrate they are unwilling to be held accountable and are unfit for the securities industry.

The permanent bar protects investors from an individual who allegedly attempted to deposit a fraudulent check and then refused to explain his conduct to regulators.