- 1999
Respondent was a registered representative of Seasongood & Mayer. The SEC found that, between 1990 and August 1996, respondent engaged in a scheme to defraud in which he misappropriated six customers’ municipal bearer bonds worth approximately $2 million. He misrepresented to his customers that he would purchase, sell, or safekeep bearer bonds for their accounts, and instead cashed them and used the proceeds to purchase personal assets such as homes, automobiles, an apartment building, and an airplane. Respondent was also criminally convicted.
