A Roswell mayoral candidate whose financial services license was suspended after he failed to pay an arbitration settlement has had that suspension lifted.
Lee Jenkins, one of two candidates in the Dec. 5 runoff, had been prohibited by the Financial Industry Regulatory Authority from offering financial services since 2012. He failed to comply with an arbitration award that said he owed more than $43,000 to Wells Fargo for breach of a 2002 promissory note, according to information from FINRA.
Jenkins’ attorney, Kurt Hilbert, said previously it involved a loan for office furniture.
Hilbert said that Jenkins, who works as a pastor, had left the industry by the time he was suspended and was not aware that the arbitration took place. Jenkins hasn't been registered to practice since 2012, but Hilbert said he stopped practicing in 2010.
The suspension was lifted Nov. 17, according to FINRA. Michelle Ong, a FINRA spokesperson, said the organization suspends people indefinitely if they don’t comply with arbitration awards, but that suspensions are lifted when payment is made. Hilbert said only that the matter has been resolved.
“It was a private contract dispute on a loan concerning office furniture and is a non-issue,” Hilbert said in an earlier statement.
Jenkins will face Lori Henry, a member of city council, in the mayor's race. Jere Wood, the current mayor, is not seeking a sixth term.
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