Investor Alert! Clients of Janney Montgomery Scott and Wells Fargo are filing disputes about financial advisor Apostolos “Paul” Pitsironis (CRD#: 2804907, Melville, New York). In fact, Soreide Law Group reviewed Pitsironis’ BrokerCheck Profile which shows 9 adverse disclosures. Namely, at least 7 investors from Janney Montgomery Scott or Wells Fargo filed disputes about him. Apparently, these investors suggest that Pitsironis failed to repay loans that they provided him. Here’s more on Pitsironis:
Janney Montgomery Scott Investor Files Lawsuit About Paul Pitsironis’ Loan Default
Evidently, a client of Janney Montgomery Scott (Paul Pitsironis’ employer from 2018 to 2019) filed FINRA Arbitration Claim #: 20-00642 on February 26, 2020. Apparently, the client loaned Pitsironis money on March 25, 2019 which he did not pay back. Supposedly, the broker defaulted on or before November 4, 2019. For this reason, Janney Montgomery Scott settled this matter by paying the client $30,000 in damages.
Wells Fargo Client Indicates That Pitsironis Failed To Pay Client Back
Apparently, a client of Wells Fargo Advisors (Paul Pitsironis’ employer from 2012 to 2018) complained about Pitsironis on December 2, 2019. Namely, Pitsironis supposedly borrowed this client’s money in November 2017. The client indicated as of December 2019 that Pitsironis has yet to pay the client back. Evidently, Wells Fargo Advisors provided a $125,100 payment to the client to resolve this matter on January 10, 2020.
Paul Pitsironis Allegedly Misappropriates Wells Fargo Client’s Funds
In a complaint dated September 6, 2019, a client alleges that he provided Paul Pitsironis money from his IRA. When Pitsironis borrowed the client’s funds on February 9, 2018, he supposedly told the client that he would repay the funds soon afterwards so that the client would not have to pay taxes. Evidently, on November 19, 2019, Wells Fargo settled these misappropriation allegations through a $26,840 payment to the client.
FINRA Bars Pitsironis For Allegedly Converting Client’s Funds
Effective September 9, 2019, FINRA barred Paul Pitsironis. It appears that Pitsironis violated FINRA rules by converting $411,000 from a client. Supposedly, without the Janney Montgomery Scott client’s knowledge or consent, Pitsironis transferred the client’s money to another account that Pitsironis owned or controlled. Janney Montgomery Scott disaffiliated with Pitsironis in June 2019.
Did Paul Pitsironis Misappropriate Your Funds?
Have you experienced losses from Paul Pitsironis? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers and financial advisors.