Rs Petrell & Associates, Llc

Allegations: NASD RULE 2110: RICHARD PETRELL OBTAINED $17000.00 FROM HIS EMPLOYING MEMBER FIRM BY SUBMITTING FALSIFIED EXPENSE REIMBURSEMENT REQUESTS. Status: Final Sanction Detail: ON APRIL 11, 2008 WITHOUT ADMITTING OR DENYING THE FINDINGS, RICHARD PETRELL CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY. Summary: FROM JANUARY 2006 TO DECEMBER 2006,RICHARD PETRELL IMPROPERLY OBTAINED OVER $17,000 FROM HIS EMPLOYER MEMBER FIRM BY SUBMITTING FALSIFIED EXPENSE REIMBURSEMENT REQUESTS. PETRELL SUBMITTED REIMBURSEMENT REQUESTS FOR MEETINGS AND MEALS THAT DID NOT OCCUR. FOR EXAMPLE, HE SUBMITTED FICTITIOUS RECEIPTS FOR MEALS FROM A VENDOR THAT HE PARTIALLY OWNED. THAT VENDOR WAS NOT IN THE FOOD BUSINESS NOR DID IT OTHERWISE PROVIDE THE CLAIMED MEALS. BY SUBMITTING FALSIFIED EXPENSE REIMBURSEMENT CLAIMS, PETRELL VIOLATED NASD CONDUCT RULE 2110.