Goodman & Nekvasil P.A., May Recover Investor Losses – Akis Costas Eracleous Pleads Guilty to Insider Trading
From 2013 until Akis Eracleous’ firing in 2015, Akis Eracleous was licensed with First Allied Securities, Inc. Akis Eracleous was previously licensed with National Planning Corporation. According to FINRA’s records, Akis Eracleous was fired by First Allied Securities, Inc. on June 11, 2015. First Allied Securities, Inc. reported to FINRA that Akis Eracleous engaged in conduct in violation of Section 10(B) of the Securities Exchange Act of 1934 and Rule 10B-5 thereunder.
Subsequent to Akis Eracleous’ firing by First Allied Securities, Inc. Akis Eracleous pled guilty to one count of conspiracy to commit securities fraud. The Securities and Exchange Commission (SEC) subsequently brought a disciplinary action against Akis Eracleous. Akis Eracleous was permanently barred from the securities and investment banking industry in July 2015. According to the SEC’s complaint filed in federal court in San Diego, the insider trading occurred from April 2009 to April 2012. The complaint charges Akis Eracleous with violating section 10(B) of the Securities Exchange Act of 1934 and Rule 10B-5 thereunder. The SEC reports that Akis Eracleous bought stock on behalf of his customers after receiving a tip from his friend, this resulted in illegal profits of approximately $530,000.
If you lost any money on investments with Akis Eracleous while Akis Eracleous was employed with First Allied Securities, Inc. and/or National Planning Corporation, you may be able to recover your losses from First Allied Securities, Inc. and/or National Planning Corporation. This is because First Allied Securities, Inc. and National Planning Corporation had a duty to supervise Akis Eracleous.
If you lost money on investments with Akis Eracleous and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against First Allied Securities, Inc. and/or National Planning Corporation concerning Akis Eracleous’ 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.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $170 million on behalf of victimized investors. If you lost money on investments with Akis Eracleous and 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.
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