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Broker Barred after Pleading Guilty to Securities Fraud

The US Securities & Exchange Commission (SEC) has barred Gregory Loles, 52, from the securities industry. This comes after Loles pleaded guilty in July of this year to mail fraud, wire fraud, money laundering, and securities fraud.

The SEC has alleged that Loles, through his Westport-based Apeiron Capital Management, Inc., bilked investors out of their cash and made false and misleading statements to that end. He has been accused of diverting investors' cash from his company and into his personal account.

Although Loles has not admitted or denied the accusations, he did accept the ban from the SEC. He may be able to reapply for association with the securities industry at a later time. Until then, he is barred from associations with any investment advisor, broker, dealer, or other person or organization in the industry.

Meyer Wilson represents victims of investment fraud and stockbroker misconduct nationwide in stockbroker mediation, arbitration, and litigation. Give one of our experienced securities fraud attorneys a call today for a free consultation.

Categories: Securities Fraud

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