John Thomas CEO Belesis Agrees to Ban in Deal With SEC
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Anastasios “Tommy” Belesis, the founder of John Thomas Financial Inc., agreed to be banned from the securities industry in a settlement with U.S. regulators who had accused him of defrauding investors in two hedge funds.
Belesis, 38, “exercised undisclosed influence” on the funds’ adviser to steer fees to his brokerage, the Securities and Exchange Commission said in an administrative order. The agency barred Belesis from working with brokers or penny-stock offerings and ordered him and John Thomas to pay $500,000 each. InvestmentNews reported on the settlement yesterday.