A Somerset County, N.J. financial advisor, Ralph A. Saviano, 72, of Bridgewater, was sentenced on Wednesday, September, 25th., 2013, to 27 months in prison for stealing $138,000 from two elderly investors and funding his "lavish lifestyle" with money he claimed to be investing in conservative securities and his business, U.S. Attorney Paul J. Fishman announced in an article on the U.S. Attorney's Website.
Ralph A. Saviano, had previously pleaded guilty before a U.S. District Judge in Trenton federal court to an information charging him with wire fraud. In June, Ralph A. Saviano, 72, pleaded guilty to charges that he stole $138,000 from two elderly investors. Allegedly, Saviano targeted clients between the ages of 60 and 85 between July 2007 and October 2012 through his association with Centaurus Financial Inc. and Saviano Financial Inc.
The Securities and Exchange Commission (SEC) accepted Saviano's offer of settlement earlier this month, and barred Saviano from associating with brokers, securities dealers, agents or investment advisers, or be involved in promoting, consulting or working with anyone who acts as a broker or issues penny stock.
"Saviano had approximately 300 clients, many of whom were unsophisticated investors ... whom he had known for many years and who trusted his financial experience and advice," Fishman said. "Saviano admitted he targeted clients he knew were about to receive significant amounts of cash, such as maturing certificates of deposit, and proposed that they invest those funds in low-risk investments or in his business."
In addition to the prison term, Saviano was sentenced to three years of supervised release and ordered restitution of $699,926.51.
According to FINRA's BrokerCheck, Ralph Anthony Saviano was previously registered with FINRA at the following brokerage firms:
CENTAURUS FINANCIAL, INC.
CRD# 30833
SOMERSET, NJ
07/2007 - 06/2012
QUESTAR CAPITAL CORPORATION
CRD# 43100
NEW BRUNSWICK, NJ
12/2006 - 07/2007
USALLIANZ SECURITIES, INC.
CRD# 40875
NEW BRUNSWICK, NJ
04/2004 - 12/2006
If you’ve experienced investment losses due to your stock broker/financial advisor’s recommendations, call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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