DaLean Annette Rials, a Registered Supervisor with Wachovia Securities, now Wells Fargo Advisors, was barred for abusing her authority as operations manager of a firm branch office.  Rial misappropriated $70,000 in funds.  She did so in two ways. 

As the Operations Manager, Rials was authorized to issue credits to customer accounts up to a certain dollar limit without additional approval.  Rials issued $50,000 in credits to accounts belonging to her friends and family, under the guise of non-existent fees and expenses.  She then withdrew the credited amounts from family accounts and received cash or checks from friends. 

Rials misappropriated another $20,000 by falsely claiming personal expenses on her expense reports.  In some cases, she accessed her supervisor’s computer to approve some of her own expenses reports.

Rials was barred from the industry.  This is FINRA Case #2009019405601).   [April 2011 Disc. Actions]