Joel Plasco Discloses Allegations Of Private Securities Transactions

Soreide Law Group is investigating possible investor claims against securities broker Joel Plasco (CRD: 3220164, Woodmere, New York). Notably, FINRA sanctioned the securities broker, who worked for Dalmore Group LLC. Allegedly, Plasco engaged in private securities transactions. Here is a brief summary of FINRA’s allegations against Plasco.

Plasco Sanctioned By FINRA For Private Securities Transactions

Notably, FINRA issued Acceptance, Waiver, and Consent No. 2020068211001 on November 7, 2022, sanctioning Joel Plasco for infractions. Allegedly, Plasco engaged in private securities transactions. Therefore, Plasco was fined $10,000 and suspended for 6 months by Financial Industry Regulatory Authority (FINRA).

In April 2019, Plasco lent $200,000 to a company for a one-month period, anticipating a 100 percent return upon maturity. The loan constituted a security. When the company failed to repay the loan, Plasco and the company reached a settlement agreement. As per the agreement, Plasco received shares of a thinly-traded stock from a different company. Plasco sold these shares in a private transaction, yielding $75,000. However, Plasco did not inform Dalmore Group in writing or seek the firm's written approval before engaging in these private securities transactions. As a result, Plasco violated FINRA Rules 3280 and 2010.

Between February 2020 and July 2020, Plasco opened brokerage accounts at three different firms without obtaining prior written consent from Dalmore Group. One of these firms held the account used for the second private securities transaction mentioned earlier. Consequently, Plasco violated FINRA Rules 3210 and 2010.

From 2016 until his departure from the firm in November 2020, Plasco held a senior executive role and received compensation from six affiliated aviation industry businesses. However, Plasco only provided prior written notice to Dalmore Group regarding one of these businesses, failing to do so for the remaining five. Consequently, Plasco violated FINRA Rules 3270 and 2010.

Joel Plasco Employment Information

Plasco worked for Dalmore Group LLC in Woodmere, New York, as a securities broker from October 8, 2015, to November 16, 2020.

Did Dalmore Group LLC Securities Broker Plasco Cause You To Experience Damages?

Did you sustain damages by investing with Joel Plasco? If so, get in touch with Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your losses. Soreide Law Group, who has effectively recovered money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Plasco and brokerage firms Plasco worked for deny accusations against them.