Former Agent Barred From NASD Dealings

A former agent with Prudential Insurance Co. of America and Pruco Securities Corp. in Oxnard has been fined and barred from associating with any National Assn. of Securities Dealers member firm.

Ephram Touma Nehme was accused of forging customers’ signatures to withdraw dividends and apply for life insurance in their names. The NASD said the alleged forgeries produced $676 in commissions for Nehme.

An NASD spokesman said Nehme agreed to the penalties without admitting or denying the allegations. In addition to being barred, Nehme was fined $30,676, of which $30,000 will be suspended if he makes restitution and does not seek future employment with an NASD member.

A Prudential spokesman said Nehme worked in the company’s Gold Coast district office from April, 1985, to October, 1991.