Apostolos Pitsironis (CRD#: 2804907) is a former registered broker and investment advisor whose last employer was Janney Montgomery Scott LLC (CRD#:463) of Montgomery, NY. Previous employers include Wells Fargo Clearing Services, LLC (CRD#:19616) of Hauppage, NY, RBC Capital Markets, LLC (CRD#:31194) if Jericho, NY, and Morgan Stanley DW INC. (CRD#:7556) of Purchase, NY. He has been in the industry since 1999.
A client dispute filed on 6/17/2019 alleged that Pitsironis transferred assets from a client’s account to a third-party account that did not belong to the client. Over a two-month period, Pitsironis made 22 ACH transfers that the client was neither aware of and nor give consent to totaling $411,000. Further investigation by Janney Montgomery led to the discovery that the account was owned by Pitsironis himself. As a result, Pitsironis was discharged on 6/19/2019, and the firm settled the claim for the amount of the damages requested, $411,000.
FINRA’s disciplinary action against Pitsironis on 9/9/2019 indefinitely barred him in all capacities, and he signed a letter of acceptance, waiver and consent (AWC.)
Six additional customer disputes from 9/6/2019 through 2/26/2020 allege that Pitsironis borrowed money from these clients and had either partially repaid them or never repaid them. These loan amounts total $433,974, and were settled for $342,931.
According to Janney Montgomery, Pitsironis was discharged after an internal investigation uncovered that he transferred funds via unauthorized ACHs from a client’s account to a third party bank account owned and controlled by the Pitsironis.
Did You Invest With Apostolos Pitsironis?
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