Ronald T. Molo Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses
The Securities and Exchange Commission today charged Ronald T. Molo, a former investment professional, with collectively defrauding three investors out of a total of approximately $800,000, which Molo used to pay personal expenses.
According to the SEC’s complaint, Molo was formerly an investment adviser representative and registered broker-dealer representative for a large financial services firm. Between January 2019 and November 2020, Molo stole a total of approximately $800,000 from three investors, two of whom were his investment advisory clients and one of whom was his brokerage customer. According to the complaint, Molo convinced the three investors to transfer money out of their advisory and brokerage accounts to another bank account, purportedly to invest in tax-free bonds. In reality, the bonds did not exist, and Molo did not tell the investors that the account to which he had directed them to transfer their money was his personal bank account. Instead of investing the money, Molo used it to pay personal expenses, including mortgage payments, automobile purchases, and renovations to his home. The complaint alleges that Molo tried to cover up his fraud by sending the three investors purported interest payments from the nonexistent bonds, using altered cashier’s checks drawn from funds in his personal bank account.
Investors with Ronald T. Molo May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested with Ronald T. Molo, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
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.
If you incurred investment losses in Ronald T. Molo 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.