While it remains unclear whether Nadia Cavner could lose her ability to sell securities for 10 years, the prominent Springfield financial adviser has a new problem to worry about connected to her recent felony stalking charge.
Cavner now faces a civil suit from her daughter’s ex-boyfriend, Patrick McFarland, and his girlfriend, Kristen Stancher.
McFarland and Stancher filed a civil suit in Greene County Circuit Court on Oct. 17 against Cavner and other parties, including Khulan Denny and Rodney Stafford, both listed as associates of Cavner and agents of BancorpSouth Inc., as well as Cavner’s former employer, BancorpSouth.
In April, Cavner pleaded guilty in federal court to a felony interstate stalking charge in Memphis, Tenn., acknowledging intentions to injure, harass or intimidate her college-age daughter’s ex-boyfriend. On Aug. 26, U.S. District Judge John Fowlkes Jr. sentenced Cavner to five years probation and six months of home detention.
According to securities regulations, a felony would statutorily disqualify Cavner from selling securities in the U.S. for 10 years. However, Financial Industry Regulatory Authority spokeswoman Michelle Ong has said financial advisers can appeal FINRA's disqualifications and licenses are not pulled until a full review is conducted by an independent board.
According to a Nov. 7
KSPR story, which cited an anonymous source, and an anonymous source that contacted Springfield Business Journal, a regulatory hearing tied to the felony was held Nov. 7.
Ong, who said the proceedings of the regulatory body are not open to the public, said she could not confirm or deny whether a hearing has taken place.
“This is a regulatory information and a regulatory process … and the process is not public,” Ong said. “But speaking generally, if a hearing had taken place, it could take a couple of months before the decision is out.”
Cavner declined to be interviewed for this story and would not confirm whether a hearing has been held or scheduled.
According to BrokerCheck.FINRA.org, Cavner is still licensed to sell securities. Cavner, who has passed Series 7, 24 and 63 exams, is not currently suspended or inactive with any regulator, according to the site.
In the civil case, a total of 20 counts are charged, each calling for judgments in excess of $25,000.
According to allegations common to all counts, McFarland was in a relationship with Cavner’s daughter prior to March 2011. He began to have an intimate relationship with Stancher, and after he broke up with Cavner’s daughter, Cavner allegedly utilized her status with BancorpSouth and recruited others to cause “direct economic, bodily and emotional distress” to the plaintiffs, according to court documents
St. Louis attorney Douglas Rudman represents McFarland and Stancher in the case. Rudman declined to say how much his clients were seeking in total compensatory and punitive damages.
“I’m not prepared to make a statement because I’m afraid it would be very glib in light of the magnitude of the causes of action set forth in the petition,” Rudman said. “This was not a singular event.”
According to the filing, between July 9, 2011, and Nov. 15, 2011, McFarland and Stancher allegedly received harassing communications that included demeaning, slanderous and defamatory material from unknown sources acting on behalf of Cavner. Defendant BancorpSouth is vicariously liable because its agents used the bank’s resources to harass the plaintiffs, according to the filing.
