Silver Law Group Collects FINRA Arbitration Award

BOCA RATON, Fla., Aug. 04, 2017 (GLOBE NEWSWIRE) -- Silver Law Group has collected a substantial FINRA arbitration award for a customer against John Thomas Financial CEO Anastasios “Tommy” Belesis.

Silver Law Group represented a customer against John Thomas Financial and Belesis alleging that Belesis operated a boiler room, and he was personally liable for the investor losses.  The securities arbitrators ultimately awarded the Claimant $500,000 and an additional $750,000 in punitive damages against John Thomas Financial and Mr. Belesis individually.

Belesis subsequently filed a motion to vacate which was denied by Judge Jed Rakoff in the Southern District of New York. Belesis has now fully satisfied the award.

On August 2, 2017, the Securities and Exchange Commission (the “SEC”) announced Belesis will pay collectively almost $1 million in disgorgement, prejudgment interest and a civil penalty in a fraud case brought by the SEC.  According to the SEC’s order, Belesis misled his customers by soliciting them to purchase penny stock shares in a company without disclosing material facts, including failing to disclose numerous conflicts of interest with the company and its principals.

If you’ve lost money investing with John Thomas Financial and/or Anastasios “Tommy” Belesis, you may be able to recover your investment losses. We take cases on a contingency fee basis, meaning you pay nothing unless we recover. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.