Finra bars broker it was investigating for fraud

Steven Pagartanis, a hearing no-show, had been discharged by Lombard Securities

Apr 16, 2018 @ 12:55 pm

By InvestmentNews

The Financial Industry Regulatory Authority Inc. has barred former broker Steven Pagartanis for failing to take part in a hearing looking into allegations that he made fraudulent misrepresentations to customers and misappropriated customers' funds.

Mr. Pagartanis, whose LinkedIn page identifies him as president and financial planner at Omega Planning Associates in Setauket, N.Y., was discharged by Lombard Securities last month after an internal investigation in which he failed to respond to customer complaint questions and requests for information. According to Finra's BrokerCheck, Lombard "requested specific information on unapproved investments allegedly made outside of the firm by a customer and why the broker failed to notify the firm regarding such outside investments."

Mr. Pagartanis had been associated with Lombard for less than a year after being discharged in March 2017 by Cadaret Grant when the firm received the results of an arbitration that contained an allegation of his selling a private security it had not unauthorized.

Mr. Pagartanis began his securities career in 1993 at Pruco Securities and was with eight other firms before joining Lombard. He has been associated with Cadaret Grant three times.


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