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.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
