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FINRA Charges Former Pruco Securities Representative With Forging Dozens of Customer Signatures on Annuity Applications

Posted on March 27th, 2026 at 10:43 AM
FINRA Charges Former Pruco Securities Representative With Forging Dozens of Customer Signatures on Annuity Applications

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

The Financial Industry Regulatory Authority (FINRA) filed a disciplinary complaint against former Pruco Securities representative Avinesh Shankar alleging he forged customer signatures on annuity paperwork to obtain commissions, according to ThinkAdvisor.

According to the complaint, Shankar forged 64 customers' signatures on 115 annuity applications between November 2022 and January 2024 while registered with Pruco Securities, the broker-dealer affiliated with Prudential Financial. ThinkAdvisor reports that FINRA records show he registered in October 2019 as a general securities representative and a variable contracts products representative. Pruco terminated him on February 20, 2024.

A Form U5 filed March 13 stated the firm discharged Shankar for submitting numerous annuity applications containing inaccurate information and non-genuine electronic customer signatures across more than 30 customers, which generated commissions later recaptured by the firm.

FINRA alleged Shankar electronically signed customer names without their knowledge or consent, as reported by ThinkAdvisor. The annuities never were funded, yet he received advanced commissions totaling $511,610 to which he was not entitled.

According to ThinkAdvisor, the complaint states that Pruco confronted Shankar in January 2024 and he admitted he forged signatures to earn commissions.

FINRA alleges the conduct violated FINRA Rule 2010 by involving forgery and conversion of funds.

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra disciplinary actions, broker misconduct, annuity fraud, pruco securities, forgery

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