Apostolos Pitsironis of Melville, New York has been barred from working in the securities brokerage industry by industry self-regulator FINRA after the regulator discovered that Pitsironis had converted over $400,000 of customer funds by making unauthorized transfers of the funds into a bank account that he controlled. Pitsironis is also involved in a legal dispute with a client who alleges that Pitsironis has failed to repay a loan.
The alleged misconduct took place while Pitsironis was associated with the brokerage firm Janney Montgomery Scott, LLC so the firm may be held jointly and severally liable for Pitsironis’s misconduct under the doctrine of respondeat superior or under agency law. See, e.g. As You Sow v. AIG Financial Advisors, Inc., 584 F. Supp. 2d 1034 (M.D. Tenn. 2008) (“Federal courts that have held that broker-dealers are liable under principles of respondeat superior where their affiliated agents steal client’s money. A contrary rule would cause injury unfair to the investing public.”) (citing Henricksen v. Henricksen, 640 F.2d 880, 887 (7th Cir.1981), cert denied, 454 U.S. 1097, 102 S.Ct. 669, 70 L.Ed.2d 637 (1981); Alvarado v. Morgan Stanley Dean Witter. Inc., 448 F.Supp.2d 333 (D.P.R.2006)).
If you suffered losses as a result of the malpractice or misconduct of Apostolos Pitsironis or Janney Montgomery Scott, LLC, the experienced securities law attorneys at Mika Meyers, PLC may be able to assist you in recovering some or all of your losses. Call us toll-free at 888-607-4819 for a free consultation or send us an email message through our “Contact” page to schedule a consultation.