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Belesis Brothers Join New Brokerage After Boiler Room Closes

Dozens of brokers from John Thomas Financial Inc., the downtown boiler room that closed after regulators accused founder Anatasios “Tommy” Belesis of fraud, have found new employers in New York’s financial district.

George and John Belesis, brothers of John Thomas founder Tommy Belesis, moved about seven blocks from their old office on Wall Street to join Portfolio Advisors Alliance Inc. in June along with 14 colleagues, according to Financial Industry Regulatory Authority records. At least 16 other ex-John Thomas brokers have joined National Securities Corp. this year, most at 80 Broad St., five blocks away from the defunct firm’s offices, the records show.