Goodman & Nekvasil P.A., May Recover Investment Losses | Steve Pagartanis – Financial Advisor Steve Pagartanis Barred from Securities Industry
Steve Pagartanis CRD #1958879
From 2012 until Steve Pagartanis’ firing in March 2017, Steve Pagartanis was licensed with Cadaret, Grant & Co., Inc. Steve Pagartanis was previously licensed with Woodbury Financial Services, Inc. Steve Pagartanis is now licensed with Lombard Securities Incorporated. According to FINRA’s records, Steve Pagartanis was fired by Cadaret, Grant & Co., Inc. on March 20, 2017. Cadaret, Grant & Co., Inc. reported to FINRA that after the firm received the arbitration, which contained an allegation of selling a private security unauthorized by the firm, a surprise examination of Steve Pagartanis’ branch was planned. However, Cadaret, Grant & Co., Inc. reports that Steve Pagartanis resigned the day before the examination was to be conducted. Cadaret, Grant & Co., Inc. reports that the examiners travelled to Steve Pagartanis’ branch despite Steve Pagartanis’ resignation, but were not provided with the information and documents requested. Cadaret, Grant & Co., Inc. reports that The Statement of Claim alleges fraud, conversion and selling away among other allegations relating to a Real Estate Security.
FINRA reports that Steve Pagartanis was barred form the securities and investment banking industry on April 13, 2018. FINRA reports that Steve Pagartanis failed to appear for on-the-record testimony in connection with FINRA’s investigation of allegations that Steve Pagartanis made fraudulent misrepresentation to customers and misappropriated customers’ funds.
On May 30, 2018, the SEC charged Steve Pagartanis with defrauding long-standing brokerage customers in an $8 million investment scam. Steve Pagartanis, who was associated with Commission-registered firms, defrauded at least nine retail investors of approximately $8 million by soliciting and selling them securities using false and misleading statements from 2013 to at least February 2018. The SEC alleges that contrary to Steve Pagartanis’ promises that Steve Pagartanis would make safe investments that would yield monthly return payments, Steve Pagartanis never made any investments. Instead, the SEC alleges that Steve Pagartanis deposited the investor funds into various bank accounts that Steve Pagartanis controlled and then used the funds, among other things, for Steve Pagartanis’ personal benefit and to make month return payments to investors in a Ponzi scheme-like manner. According to the SEC, Steve Pagartanis has stopped making monthly payments and has not returned investors’ funds.
FINRA reports that an arbitration claim was filed involving Steve Pagartanis’ conduct with Cadaret, Grant & Co., Inc., alleging unsuitable and misrepresented investments due to an error in the client’s 2008, 1035 exchange that omitted the 7% GMIB benefit. This arbitration claim sought $88,000 in damages and was settled for $80,000.
FINRA also reports that an arbitration claim involving Steve Pagartanis’ conduct with Cadaret, Grant & Co., Inc. and Woodbury Financial Services, Inc. has been filed, alleging negligence, suitability, misrepresentation and fraud relating to REIT investments not sold through the Firm. This pending arbitration claim seeks $245,000 in damages.
If you lost any money on REITs and/or other investments with Steve Pagartanis, you may be able to recover your losses from Cadaret, Grant & Co., Inc, Woodbury Financial Services, Inc. and/or Lombard Securities Incorporated. This is because Cadaret, Grant & Co., Inc, Woodbury Financial Services, Inc. and Lombard Securities Incorporated had a duty to supervise Steve Pagartanis.
If you lost money on REITs and/or other investments with Steve Pagartanis and believe that 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 Cadaret, Grant & Co., Inc, Woodbury Financial Services, Inc. and/or Lombard Securities Incorporated concerning Steve Pagartanis’ 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 REITs and/or other investments with Steve Pagartanis 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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