John Belesis of New York New York a stockbroker formerly registered with Portfolio Advisors Alliance Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by allegations that between July of 2013 and August of 2017: (1) the customer’s account was churned (2) transactions were negligently effected (3) contractual obligations had been breached (4) fiduciary duties owed to the customer were breached and (5) inappropriate stock and over-the-counter equities recommendations had been made to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03491 (Oct. 22, 2018).

John Belesis was fromerly registered with John Thomas Financial and is ostensibly related to Anastasios “Tommy” Belesis. On October 17, 2014, the United States Securities & Exchange Commission filed a Cease and Desist Action against John Thomas Financial and Anastasios P. Belesis, alleging of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1), 206(2) and 206(4) of the Advisers Act and Rule 206(4)-8 thereunder, and among other things involving John Thomas Bridge & Opportunity Fund, II. (In the Matter of John Thomas Financial, Inc., et al. SEC Administrative Proceeding File No. 3-15255 (Oct. 17, 2014), and on January 9, 2015, the Financial Industry Regulatory Authority (“FINRA”) found that John Thomas Financial and Anastasios P. Belesis, in addition to providing false information to FINRA, were found to have engaged in “fraud, intimidation, and the falsification of book and records. (Department of Enforcement v. John Thomas Financial, Inc., Disciplinary Proceeding No. 20120334673-01 (Jan. 9, 2015)). Belesis and John Thomas have been barred by FINRA, and as of even date there are more than a dozen unpaid arbitration awards rendered against Belesis and/or John Thomas Financial.

FINRA Public Disclosure additionally confirms that a customer initiated investment related arbitration claim involving Belesis’ activities was settled for $40,000.00 in damages founded on accusations that while Belesis was employed by Portfolio Advisors Alliance LLC, Belesis was responsible for, inter alia, having failed to supervise a broker’s activities; breached his contractual and fiduciary obligations to the customer; implemented an investment strategy that was not suitable for the customer; and negligently administered the customer’s stock transactions. FINRA Arbitration No. 16-01567 (Mar. 25, 2017).

Belesis’ registration with Portfolio Advisors Alliance Inc. has been terminated as of November 17, 2015. Belesis’ only other brokerage firm employer, John Thomas Financial, has been expelled by FINRA based upon allegations that the firm failed to pay FINRA $129,697.20 in fines that the regulator assessed based on findings that the firm traded ahead of the firm’s customer orders in violation of Securities Exchange of 1934 Section 17a-3 and 17a-4 and FINRA Rules 2010 and 4511(a).

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website