Goodman & Nekvasil P.A, May Recover Investor Losses | Demitrios Hallas, Barred from Securities Industry
Demitrios Hallas has been licensed with PHX financial, Inc., Forefront Capital Markets LLC, Santander Securities LLC and Aegis Capital Corp.
FINRA brought a disciplinary action against Demitrios Hallas in 2016. Demitrios Hallas was barred from the securities industry. FINRA reports that Demitrios Hallas failed to appear and provide testimony requested by FINRA relating to a customer complaint that alleged that he recommended an unsuitable transaction in a variable annuity and to certain events that Demitrios Hallas was required to disclose on his Form U4.
In April 2017, the SEC charged Demitrios Hallas with knowingly or recklessly trading unsuitable investment products in the accounts of five customers and misappropriating more than $170,000 from one of those customers by instead of investing the funds on the customer’s behalf. Demitrios Hallas allegedly deposited the funds into his own personal bank accounts and spent them on personal expenses including significant bar and restaurant bills, credit card payments, student loan payments, and rent. In little more than a year, Demitrios Hallas allegedly traded 179 daily leveraged exchange traded funds (EFTs) and exchange traded notes (ETNs) generating commissions and fees of approximately $128,000, with a net loss across all 179 positions of approximately $150,000. Demitrios Hallas enriched himself by systematically disregarding his customers’ investments profiles and repeatedly trading risky, volatile products that were unsuitable for them.
If you lost any money on investments with Demitrios Hallas, if Demitrios Hallas misappropriated any monies from you, you may be able to recover your losses from PHX financial, Inc., Forefront Capital Markets LLC, Santander Securities LLC and/or Aegis Capital Corp. This is because PHX financial, Inc., Forefront Capital Markets LLC, Santander Securities LLC and Aegis Capital Corp had a duty to supervise Demitrios Hallas.
If you lost money on investments with Demitrios Hallas, and believe that the investments may have been unsuitable or otherwise improper for you, or if Demitrios Hallas misappropriated any monies from you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against PHX financial, Inc., Forefront Capital Markets LLC, Santander Securities LLC and/or Aegis Capital Corp concerning Demitrios Hallas’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Demitrios Hallas or if Demitrios Hallas misappropriated any monies from you, and you would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.