Athanasios Tomaras (also known as Thanasi Tomaras) of Oldsmar Florida a stockbroker currently registered with RF Lafferty Co. Inc. has been fined $5,000.00 and suspended for 45 days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that Tomaras failed to identify outside business activities for RF Lafferty and had made false statements on compliance questionnaires regarding those activities. Letter of Acceptance Waiver and Consent No. 2020066205401 (Sept. 7, 2021).
According to the AWC, from June of 2017 to April of 2020, Tomaras was required under RF Lafferty’s policy to make it aware of any outside business activities and to get advanced permission to engage in those activities. Tomaras was supposed to inform the employer about any officer, director or partner role that he had including whether he stood to be compensated through the activity.
In June of 2017, Articles of Organization were filed by Tomaras with Florida Secretary of State regarding a residential and commercial landscaping company called TESA LLC. He managed the company’s operations and finances. FINRA indicated that TESA LLC received more than $1,300,000.00 in revenues between 2017 and 2020.
The AWC stated that Tomaras falsified compliance questionnaires regarding TESA LLC between 2017 and 2019. He claimed on three of those questionnaires that he did not have any involvement in undisclosed business activities. His disclosure of TESA LLC to his employer came only after FINRA alerted the firm about it. Tomaras violated FINRA Rules 2010 and 3270.
This is not the first time that Tomaras has been sanctioned. He was fined $10,000.00 and ordered by Florida Office of Financial Regulation to refrain from violating Florida securities laws. Case No. 2019-CDS-015 (June 13, 2019). He was accused by the regulator of unethical conduct while registered with Morgan Stanley DW Inc. In another regulatory action, Colorado Division of Securities placed restrictions on Tomaras’ stockbroker registration because of his disclosure history.
Tomaras has been identified in five customer initiated investment related disputes regarding accusations of his misbehavior while registered with Fulcrum Securities LLC and Morgan Stanley DW. FINRA Public Disclosure shows that a customer filed an investment related complaint involving Tomaras’ conduct where the customer sought $17,000.00 in damages based upon allegations that unauthorized transactions were effected by Tomaras at Morgan Stanley.
A different customer initiated investment related FINRA securities arbitration claim regarding Tomaras’ activities was resolved for $35,000.00 in damages founded on accusations of negligence and the violation of Florida Securities Act as it related to Tomaras’ penny stock transactions at Fulcrum Securities. The claim alleges that Tomaras breached a fiduciary duty and breached a contract.
Tomaras is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $14,999.00 in damages on September 24 ,2017 based on allegations of unsuitable trades by Tomaras during the time that he was registered with Fulcrum Securities. The claim alleges bad advice on oil and gas securities as well as over-the-counter equities and stocks. FINRA Arbitration No. 16-02962.
Tomaras has been registered as a stockbroker of RF Lafferty since October 16, 2015. Since March 1, 2016, Tomaras has been registered with RF Lafferty as an investment adviser representative.
