Former Merrill Lynch financial advisor, JESSE JOSEPH HOLOVACKO (CRD#: 5112298), 39 years-old from Sayreville, New Jersey, was convicted of defrauding his client out of his retirement savings and using the funds for his own benefit. Holovacko was convicted of six counts of wire fraud and one count of investment advisor fraud. The Financial Industry Regulatory Authority, Inc. (FINRA) has barred JESSE JOSEPH HOLOVACKO from acting as a broker or otherwise associating with firms that sell securities to the public.
In 2012, JESSE JOSEPH HOLOVACKO, allegedly transferred a client’s pension savings into an IRA. From December 2013 through August 2014, Holovacko allegedly told his client that he would be using retirement account funds to purchase bonds for him and advised the client to transfer funds from the IRA to his bank account and then provide cashier's checks made out to Jesse Holovacko. Holovacko told his client the reason for doing this would be to make it easier to purchase the bonds. Holovacko received 18 cashier's checks from his client, totaling $255,000. Holovacko then deposited his client’s cashier checks to his own bank account and used the money for his own personal uses.
Each wire fraud charge Holovacko was convicted on carries a maximum 20 years in prison and a $250,000 fine.
According to FINRA’s BrokerCheck, JESSE JOSEPH HOLOVACKO has 12 Disclosures on his report, 8 of which are Customer Disputes. He has been in the securities industry for 8 years and was listed with 2 firms:
11/14/2011 - 09/18/2014 MERRILL LYNCH PIERCE FENNER & SMITH INC. - EDISON, NJ
09/20/2006 - 11/22/2011 UBS FINANCIAL SERVICES INC. - EDISON, NJ
If you were a client of former Merrrill Lynch of Edison, NJ, financial advisor, JESSE JOSEPH HOLOVACKO, and experienced investment losses due to his recommendations, actions or lack of supervision, call Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your losses at: 888-760-6552.
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