FINRA Says John Thomas Bilked Investors, Bullied Reps

Law360, New York (April 15, 2013, 2:34 PM EDT) -- The Financial Industry Regulatory Authority on Monday accused John Thomas Financial CEO Anastasios "Tommy" Belesis and others with fraud in connection with the sale of stock in bankrupt America West Resources Inc., saying his company refused to fill customer sell orders and intimidated employees who disagreed with company practices.

FINRA says Belesis and his company co-defendants stiffed at least 15 customers by refusing to sell their shares in American West during a price spike in February. While refusing the sell orders, the company sold the majority...
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