Anastasios “Tommy” Belesis, he of John Thomas Financial, of "Give me just 1% of your trust and confidence and I will earn the other 99%", of not letting junior brokers sit down, of using Rocky to get pumped up for cold calls, of screening Boiler Room at the office, of sending employees who show up to work sporting stubble to the men's room to shave, of "f–k you, you’re done in this business, you’re done in this business, get the f–k out of here", and of threatening to run someone over "in the street", has been barred from the brokerage industry for 1 year, at which time he'll have to reapply.
Technically, he could tap on the window of various brokerage shops, gesture for someone, anyone to come over, and then threaten to run them over; he could text brokers he used to work with and tell them they'd better look both ways; but he won't be doing any of these things in an official capacity. In the meantime, he'll have to keep his game sharp by threatening to gun it over the waiter who moves at a glacial place bringing him his jack and coke, his neighbor who dares to bring up the matter of Belesis's toy poodle constantly shitting on everyone else's lawn, and Oliver Stone, whose movies he'll now have much more time to appear in but who will make the mistake of asking Belesis to pay for his method acting classes out of his own pocket.
The Securities and Exchange Commission on Thursday barred Anastasios “Tommy” Belesis, former chief executive of the shuttered John Thomas Financial Inc., from the brokerage business. Charging the ex-boiler-room boss with negligent activity, the SEC charged that his firm placed customers in two John Thomas hedge funds, and the funds' adviser and manager fraudulently elevated the firm's interests over those of the funds. The SEC charged Mr. Belesis with influencing the funds' manager and adviser, forcing them to breach their fiduciary duty. The manager's allegiance to his firm thus deprived the funds “of a material amount of money, directly or indirectly, for placement fees, loans to small companies that then used the money to pay fees to JTF, and for unearned bridge loan fees JTF received for performing little or no services,” the SEC said in its cease-and-desist order. The SEC has ordered Mr. Belesis to pay disgorgement of $311,948, prejudgment interest of $88,052 and a civil penalty of $100,000.
Further, he is now barred from association with any broker, dealer or investment adviser and prohibited from serving as an adviser, employee, officer, director or advisory board member for any registered investment company. Mr. Belesis also is barred from participating in any penny stock offerings. However, he has the right to apply for re-entry to the brokerage business after one year. Mr. Belesis' lawyer, Ira Sorkin, said Mr. Belesis neither admitted nor denied the allegations.
Tommy Belesis barred from brokerage business [Investment News, SEC]
Related: If Threatening To Hit An Employee With His Car Is Wrong, Tommy Belesis Doesn’t Want to Be Right; Boiler Room Operator Who Doesn’t Let Junior Sit Down, Thinks Cameos In Shia LaBeouf Movies Are Good For Business Shockingly Charged With Fraud; “Brokers who show up with stubble are sent to the bathroom, where a bow-tied attendant dispenses razors, cologne and candy.”