Police Record - Am I screwed for life??

Guys....several years back in my early 20s, I did some really dumb shit. Got hammered with my fratty buddies one weekend, for some reason things got too wild and out of hand and I ended up getting charged with 'public indecency' (misdemeanor). Anyway, long story short, after pleading guilty and fines, probation etc., charges were sealed. Changed non-finance jobs several times without any issues. Now I am entering a top MBA program and want to work in finance - maybe S&T, IM or a hedge fund.

Given the rigorous checks in finance, am I totally screwed due to this charge? Should I abandon all dreams of ever having a good career in any competitive finance related field?

 

Kids do stupid things, one mistake several years ago isn't going to kill your career. As long as there isn't a pattern of stupid behavior you should be fine. Don't sweat it and if they bring it up be honest about it.

 

Thanks guys for the great responses.....I used to think like Marcus said - it should not be an issue, I mean this is not related to anything that FINRA would consider a red flag -stealing, shoplifting etc. -just a drunken streaking bet ;) . Then I started hearing and reading about several cases where BB banks had withdrawn offers (eg http://answers.yahoo.com/question/index?qid=20081007165615AAqY1bq) for relatively minor offenses and DUIs several years back. Still no cause for concern? Would some sectors be more forgiving compared to others, maybe?

 
Best Response
JohnGr:
Guys....several years back in my early 20s, I did some really dumb shit. Got hammered with my fratty buddies one weekend, for some reason things got too wild and out of hand and I ended up getting charged with 'public indecency' (misdemeanor). Anyway, long story short, after pleading guilty and fines, probation etc., charges were sealed. Changed non-finance jobs several times without any issues. Now I am entering a top MBA program and want to work in finance - maybe S&T, IM or a hedge fund.

Given the rigorous checks in finance, am I totally screwed due to this charge? Should I abandon all dreams of ever having a good career in any competitive finance related field?

Man up. You did that shit. Own up to it and if anybody asks explain how you learned from it and grew up as a result. What you should abandon is wallowing. If you're a quality candidate, you will get a gig, this is peanuts.

 

No it's not really expunged. You cannot expunge any record after pleading guilty in my state, no matter how minor the charge. Hence it is sealed from public view by an order of non-disclosure, but is still viewable to law enforcement agencies and regulatory bodies. I ran an FBI check and it still shows. BTW for your situation, even many records expunged at the state level are still visible in the FBI database and can be accessed by finra and other finance employers. Just make sure your isn't.

 

You could always just relocate to Australia or the UK. They won't have access to state police records- atleast I hope not.

@fully_amazing: How did you run your own background check?

I win here, I win there...
 
<span class=keyword_link><a href=/resources/skills/trading-investing/arbitrage target=_blank>arbitRAGE</a></span>.:
You could always just relocate to Australia or the UK. They won't have access to state police records- atleast I hope not.

@fully_amazing: How did you run your own background check?

Basically after the judge told me my record was expunged (I specifically asked if I could put down "No" for ever having been arrested on a job app" which she said yes) she said to wait a month and check with the Attorney Generals Office, they do the background checks.

 

Most people get fired over background checks b/c they lied, not b/c of the crime they commited. I have seen it several times before. The boss comes around the corner from HR saying if he had just told us about it, we still would have hired him.

If you have a problem, disclose it because if they find out, then it gets bad from there.

If you are a registered rep [FINRA series 7], and you get fired, it goes on your U-4. Good luck getting a job after you have, "Terminated for cause: failure to disclose arrest record" on your U-4.

Honestly, your problem is failry mundane. You didn't have a breech of trust , theft, or harm to an individual, you got drunk and were proably caught pissing in public. It was college, it happens.

This is a quote form the above link that sums it up nicely:

First, you would be screwed if you were convicted of a felony. Then your career would be over.

Second, you would be screwed if you were convicted of a misdimeanor that had anything to do with trust (eg, lying to a police officer, petty larceny). You might be screwed if you were investigated for the same issues (guilty or innocent) by a regulator.

Third, you would be screwed if you lied about your issues. Most licenses with regulators and employment contracts cover these covenants. Companies that do background checks also find these out. While it would be very tempting to tick the "no" box when they ask whether you have ever been investigated for any crime, don't do it. If found out later, you could then get the dreaded 'investigated' issue, whereupon you would be banned for life.

 

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