The Financial Industry Regulatory Authority has permanently barred Jeffrey McClure from the securities industry for converting nearly $89,000 from an elderly client's bank account while working at Wells Fargo Advisors and an affiliated bank in Chico, CA.

The Financial Industry Regulatory Authority has permanently barred Jeffrey McClure from the securities industry for converting nearly $89,000 from an elderly client's bank account while working at Wells Fargo Advisors and an affiliated bank in Chico, CA.

FINRA said the misconduct took place from December 2012 to August 2014, during which time McClure wrote himself 36 checks totaling $88,850 from the client's affiliated bank account without her knowledge or consent.

He had access to the checks because the client had authorized him to pay her rent and other expenses as agreed, the authority said yesterday. "Instead, McClure deposited the checks into his personal bank account and used the funds for his personal expenses."

In settling this matter, McClure neither admitted nor denied the charges but consented to the entry of FINRA's findings.