- 2011
The SEC found that respondent, a principal and director of a registered investment adviser, made oral misrepresentations to one of his investment advisory clients in order to conceal $3.6 million in index options trading losses he had incurred in the client’s account. During the same period, respondent allegedly falsified several of the client’s brokerage account statements and delivered these falsified statements to the client’s private banker. Monetary sanctions were not assessed upon respondent’s sworn statement of inability to pay.
