In New York, a former broker at Sanders Morris Harris Inc., Patricia Bonavito, is stuck having to pay $233,758, plus 5% interest, for breaking her promissory note. She was also ordered to pay the company's attorneys' fees totaling $21,000, according the Finra award.
Bonavito left Sanders Morris Harris, which is now called SMH Capital Inc., in September 2007 and isn't registered with another brokerage, according to Finra. The company's attorneys said it was a standard case of failure to pay back a signing bonus. Bonavito represented herself in the arbitration process and couldn't be reached for comment.
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