John Thomas, CEO Belesis Pay $1M To End SEC Action

Law360, New York (December 5, 2013, 6:09 PM EST) -- Defunct brokerage firm John Thomas Financial Inc. and CEO Anastasios “Tommy” Belesis have each agreed to pay $500,000 to settle a U.S. Securities and Exchange Commission suit alleging they aided a hedge fund manager's fraud, the agency said Thursday.

New York-based John Thomas Financial and Belesis settled the administrative action without admitting or denying the allegations, according to an order filed by the SEC. The agency alleged Belesis worked with George Jarkesy, a Houston-based radio talk show host, to launch two hedge funds that together raised...
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