Jonathan Varelas, Equitable Advisors Broker, Accused Of Misappropriation In Client Dispute

Jonathan Evans Varelas [CRD: 7326567], a broker based in River Vale, New Jersey, disclosed a client complaint, according to BrokerCheck . He has worked with LPL Financial LLC since May 26, 2026. He has also worked with Sterling Legacy Advisors Inc. since February 6, 2026. Before that, Varelas was registered with Equitable Advisors LLC as a broker from March 21, 2022, to July 24, 2025, and as a financial advisor from May 22, 2024, to July 24, 2025. He was also registered with NYLife Securities LLC from February 22, 2022, to March 29, 2022. Here is what the complaint involved and how it was resolved.

Equitable Advisors Client Accused Jonathan Varelas Of Misappropriation

An Equitable Advisors client filed a complaint about Jonathan Varelas on August 25, 2026. The client alleged that Varelas misappropriated funds tied to an investment in a business venture. The client claimed to have suffered losses related to the venture. Therefore, he sought $500,000 in compensation from Equitable Advisors or Varelas. The complaint was closed on September 22, 2026.

What Is Misappropriation?

Misappropriation generally means improperly taking, using, or retaining money or property that was entrusted to someone for a particular purpose. In investment disputes, a client might allege that a financial professional used their funds without permission or for an improper purpose.

Concerned About Investment Losses Involving Jonathan Varelas?

If you believe you suffered investment losses because of Jonathan Varelas, contact Soreide Law Group online or call (888) 760-6552 to discuss possible recovery with a securities attorney. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Varelas and the brokerage firms he worked for deny allegations of sales practice violations.