The SEC barred Gregory P. Loles, of Easton, Connecticut, from the securities
industry on Tuesday for acting as an unregistered investment adviser and
defrauding numerous investors (including officials and parishioners at
St. Barbara Greek Orthodox Church in Orange) out of $8.7 million. Loles
was the owner and operator of Apeiron Capital Management, Inc., located
Aperion was a registered investment adviser and broker dealer from 1995
through 1998, after which the firm lost its registration status. Loles,
nevertheless, continued to falsely represent Aperion as a registered investment
management firm and to solicit investors on the firm's behalf.
Shortly after Thanksgiving 2010, he was indicted on 32 counts of securities
fraud, mail fraud, wire fraud, and money laundering in connection to a
$10 million investment scheme. He pled guilty in July. (For more information
about the criminal case and Loles' plea, click
Tuesday's Order permanently barred Loles "from association with
any investment adviser, broker, dealer, municipal securities dealer, municipal
advisor, transfer agent, or nationally recognized statistical rating organization."