MARK JOSEPH GILLIS (MARK J GILLIS) CRD#: 2381496, 48 years-old from Saranac Lake, New York, was sentenced to time served and a year of home detention for defrauding clients of his brokerage firm out of nearly $400,000.
Gillis was ordered by the Senior U.S. District Judge to forfeit $379,562 and to pay $226,500 in restitution to the Securities Investor Protection Corp. Gillis could have been sentenced to up to 25 years in prison, fined up to $250,000 and a term of post-imprisonment supervised release of up to five years.
MARK J GILLIS, in 2012, was the co-owner of Hudson Valley Capital Management Inc., a securities broker/dealer with offices in Saranac Lake and Croton-on-Hudson. Gillis was a licensed stockbroker and worked out of Saranac Lake.
According to the U.S. Attorney’s Office, Gillis admitted to buying shares of a stock and transferring the shares to three Hudson Valley clients at markups of up to 280 percent. Because of these markups, Gillis stole $379,652 from his clients to cover up an approximately $400,000 loss he personally suffered while trading securities for his own benefit.
The Financial Industry Regulation Authority (FINRA) has barred MARK J GILLIS, after an investigation, from acting as a broker or otherwise associating with a broker-dealer firm. Also, Hudson Valley Management was expelled from the industry.
According to FINRA’s BrokerCheck, MARK J GILLIS has 5 Disclosures on his report. Gillis had been in the securities industry for 18 years and was listed with 7 firms, the 2 most recent listed below:
02/29/2012 - 11/08/2012 WESTOR CAPITAL GROUP, INC - FINRA expelled the firm on 06/19/2013 - HERKIMER, NY
12/16/2009 - 11/08/2012 HUDSON VALLEY CAPITAL MANAGEMENT - FINRA expelled the firm on 11/08/2012 - CROTON ON HUDSON, NY
If you were a victim of MARK J GILLIS, formerly of HUDSON VALLEY CAPITAL MANAGEMENT of Croton on Hudson, NY, contact Soreide Law Group and speak to a securities lawyer at no cost regarding the possible recovery of your losses at: 888-760-6552.
Soreide Law Group represents clients nationwide on a contingency fee basis.
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