Sotirios Pappas – Former MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Broker Suspended by FINRA – May Recover Investor Losses
Former MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Broker, Sotirios Pappas Suspended by FINRA.
CRD#: 6906891
Sotirios Pappas (CRD#: 6906891), a former broker for MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED in SCHAUMBURG, IL, was recently suspended for six-months after the broker consented to FINRA sanctions.
According to the FINRA AWC, In 2003, a Greek civil court issued three judgments totaling over €700,000 against Pappas in a lawsuit brought by one of his securities customers. Pappas never satisfied the judgments. In 2005, Pappas was charged with one count of fraud involving investments, a felony, in a Greek criminal court. Pappas failed to disclose the judgments and the felony
charge on his Form U4 during his association with Merrill Lynch, even after an American court recognized the judgments in April 2023.
Merrill Lynch previously accepted the voluntary resignation of Pappas.
Former MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Broker, Sotirios Pappas Suspended by FINRA.
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 6/16/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.