Jason Galanis pled guilty in New York Federal Court to participating in multiple fraudulent schemes.
The schemes were the same ones — a stock trading scam involving Gerova Financial Group shares and another involving investments for Native American tribes — to which he had pled guilty in July 2016 and January 2017, but those convictions were subsequently vacated.
In the most recent case, Mr. Galanis pled guilty to three counts of conspiracy to commit securities fraud, each carrying a maximum sentence of five years in prison and a maximum fine of $250,000; two counts of securities fraud, each of which carries a maximum sentence of 20 years in prison and a maximum fine of $5 million; one count of investment adviser fraud, which carries a maximum sentence of five years in prison and a maximum fine of $10,000; and one count of conspiracy to commit investment adviser fraud, which carries a maximum sentence of five years in prison and a maximum fine of $10,000.
He is scheduled to be sentenced May 12, the U.S. Attorney’s Office for the Southern District of New York said in a release.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
