An attorney for Brent Ryan Bodner told PEOPLE that the banker's firing stemmed from a $642.50 deli platter ordered for a business meeting in 2024
Credit: Courtesy of Marc Rosen
NEED TO KNOW
- The Financial Industry Regulatory Authority (FINRA) ruled that JP Morgan must pay Beverly Hills, Calif., broker Brent Ryan Bodner $4.25 million in damages after he was fired from the company
- Bodner’s attorney Marc Seldin Rosen tells PEOPLE that his client was allegedly terminated after JP Morgan argued that a $642.50 deli platter that was expensed to the company was for personal reasons, while it was for a client meeting
- “We disagree with counsel’s characterizations of the facts and believe they are contrary to the witness testimony and evidence presented at the hearing,” a JP Morgan spokesperson said in a statement
The Financial Industry Regulatory Authority (FINRA) ruled that JP Morgan must pay Beverly Hills, Calif., broker Brent Ryan Bodner $4.25 million in damages, with a 10% annual interest rate from the date of service until the award is fully paid, according to the ruling reviewed by PEOPLE.
Following the ruling, JP Morgan must also repay Bodner the $800 filing fee. FINRA further recommended that his record for "reason for termination and termination explanation" be expunged, with the reason for his departure revised to read "voluntary," per the ruling.
Bodner was fired in 2024, after the company raised concerns over a $642.50 deli platter that he charged to JP Morgan, Bodner's attorney, Marc Seldin Rosen, tells PEOPLE.
Rosen said that JP Morgan claimed that the platter was served at a personal Super Bowl party, when it was actually purchased for a "pre-approved business meeting" held at Bodner's home.
Rosen also told PEOPLE that Bodner's assistant had sought approval for the food order in advance.
"We vehemently disagree with FINRA's decision and are disappointed by this outcome," a JP Morgan spokesperson said in a statement shared with PEOPLE.
“We disagree with counsel’s characterizations of the facts and believe they are contrary to the witness testimony and evidence presented at the hearing," the statement continued.
The gathering that led to Bodner's termination was held in 2024, around the time of the Super Bowl, Rosen said.
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"I'm unsurprised," Rosen said of FINRA's ruling. "And I, you know, I was hopeful that it would be more in line with the actual damages he sustained, but given the forum we were in, you know, you can't disrespect that outcome."
Bodner now works for Wells Fargo, Rosen confirmed.
“In every workplace in America, submitting an inaccurate expense report is grounds for termination," the JP Morgan spokesperson's statement concluded. "When a company takes reasonable actions based on its investigation and submits a good faith U5 in compliance with the law, it should not be second-guessed and punished with a multi-million dollar award.”
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