FINRA

Lykos was named a respondent in a FINRA complaint alleging that he engaged in unethical conduct while taking the Series 24 qualification examination for a third time. The complaint alleges that during the exam, Lykos wrote on his hand and driver's license while viewing examination questions. Lykos then took a nearly 30-minute unscheduled break, during which he left the testing center premises in violation of FINRA's rules of conduct. After the break, Lykos attempted to bring a business card with handwritten notes on it into the examination testing room, but was thwarted by a testing center employee. Lykos then returned to the testing room and revisited several of the questions that he had been viewing while writing on his hand and driver's license. Lykos changed his answers to two questions. Lykos engaged in such conduct after acknowledging and agreeing to follow FINRA's rules of conduct applicable to qualification examinations, which, among other things, prohibit leaving the testing center during any breaks, prohibit the removal of any test center material through any means, prohibit the capturing of examination content, and prohibit seeking assistance in answering examination questions.

Pending Appeal

Bar (Permanent)

All Capacities

Indefinite

12/16/2021

Hearing Panel decision rendered May 1, 2020 wherein respondent is barred from association with any FINRA member in all capacities and is ordered to pay costs in the amount of $5,110.44. The sanction is based on findings that Lykos acted unethically by cheating during a qualification examination. The findings stated that at various points in the morning during the exam, Lykos wrote on his driver's license and on the fingers of his left hand, including the sides of his fingers. Subsequently, Lykos took an unscheduled break and, instead of using the restroom, he left the test center premises in violation of FINRA's Rules of Conduct. When Lykos returned to the exam after his unscheduled break, he answered one new question and then reviewed 17 questions he had already answered and changed his answers to two questions. In addition, Lykos tried to conceal his misconduct from the exam proctors by licking and rubbing his driver's license and by obstructing their investigation by licking and smearing his fingers so that his writing could not be photographed clearly. On May 20, 2020, Lykos appealed the decision to the National Adjudicatory Council. NAC decision rendered December 16, 2021 wherein the findings made are affirmed and the sanctions imposed by the Hearing Panel are affirmed. On January 10, 2022, Lykos appealed the decision to the SEC. The sanctions except for the Bar are not in effect pending the review.

$2,579,000.00

Civil

THE LENDER AGREED TO A JUDGMENT RELATED TO A CONSTRUCTION LOAN UPON WHICH I WAS A CO-GUARANTOR TO A THIRD PARTY OWNED BY THE PARTNERSHIP. JUDGMENT RESULTED FROM MY THIRD PARTY CO-GUARANTY ON A CONSTRUCTION LOAN. I AGREED TO A JUDGMENT WITH THE UNDERSTANDING THAT THE CO-GUARANTOR WOULD RESOLVE THE OUTSTANDING JUDGMENT. I WAS NOT IN CONTROL OR ASSOCIATED WITH THE PARTNERSHIP AT THE TIME THE PARTNERSHIP DEFAULTED. THE LENDER WAS AWARE THAT I WAS NOT IN A FINANCIAL POSITION TO GUARANTY ANY PART OF THIS LOAN AND LOOKED TO THE CO-GUARANTOR'S FINANCIAL STATEMENT AND THE VIABILITY OF THE PROJECT OWNED BY THE PARTNERSHIP FOR REPAYMENT. OFFERS TO SETTLE HAVE BEEN REJECTED. THE LIEN HOLDER IS LIKELY TO LET THIS LAPSE AFTER 10 YEARS.

$4,625,243.00

Civil

HARRIS COUNTY CASE #56-2007-00286120-CU WAS A RERECORDING OF THE JUDGMENT OBTAINED IN STATE COURT IN DALLAS COUNTY. THE CASE HAS SINCE BEEN CLOSED. THE LIEN HOLDER HAS LET THIS LAPSE AFTER 10 YEARS. BASED ON TEXAS LAW THE JUDGMENT IS ONLY VALID FOR TEN YEARS.