Anastasios P. Belesis, of New York, New York, a stockbroker formerly registered with John Thomas Financial, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to notify FINRA concerning his compliance with a customer initiated investment related arbitration award or a settlement arrangement. Letter No. 13-01629 (Jan. 25, 2017). FINRA Public Disclosure reveals that between May 29, 2015, and April 6, 2016, Belesis was subject of two additional sanctions imposed by FINRA for failure to confirm compliance with settlement agreements or arbitration awards.
Prior to this point, on January 9, 2015, Belesis was fined $100,000.00, disgorged of $1,047,288.01, and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades, failed to accurately preserve records and books concerning his activities, and falsified information to FINRA staff; conduct violative of FINRA Rules 2010, 5320, 8210, 4511(a), and Securities Exchange Act of 1934 Rules 17a-3 and 17a-4.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Belesis has been named in eleven customer initiated investment related disputes regarding allegations of his wrongdoing while associated with John Thomas Financial, Ladenburg Capital Management, GBI Capital Partners, Inc., and S.W. Bach & Company.
Specifically, on April 1, 2013, a customer filed an investment related arbitration claim regarding Belesis’ activities, where the customer requested $2,118,149.00 in damages based upon allegations that Belesis induced the customer’s over-the-counter equity transactions due to misrepresentations. On March 20, 2014, another customer was awarded $16,000.00 in damages according to an investment related arbitration claim involving Belesis’ conduct, based upon allegations including churning, breach of contract, fraud and unsuitability in connection with equities purchased and sold in the customer’s account.
Subsequently, on April 7, 2014, a customer was awarded $21,578.42 in damages according to an investment related arbitration claim pertaining to Belesis’ activities, based upon allegations against Belesis of fraud, breach of fiduciary duty, and negligence. The customer additionally alleged that John Thomas Financial negligently hired and supervised Belesis’ activities. Moreover, on August 5, 2014, a customer was awarded $600,000.00 in damages according to an investment related arbitration claim involving Belesis’ misconduct, based upon allegations that Belesis made investment based misrepresentations, breached his contractual duties, negligently managed the customer’s investment portfolio, churned the customer’s account, and committed securities fraud.
On January 1, 2015, another customer was awarded $500,000.00 in damages according to an investment related arbitration claim concerning Belesis’ activities, based upon allegations that he breached his fiduciary obligations to the customer, and effected unsuitable transactions in the customer’s account. Further, on April 8, 2016, a customer initiated investment related arbitration claim regarding Belesis’ conduct was resolved for $100,000.00 in damages based upon allegations that Belesis’ misrepresentations induced the customer’s private placement investments.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation 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 consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
