Client alleges that the Financial Advisor took a loan from the client and failed to repay the borrowed amount and interest. Client demanded that the Firm repay the loan on behalf of the Financial Advisor. March 25, 2019 through November 4, 2019

$100,000.00

$30,000.00

Client complained that funds loaned to the financial advisor, with a commitment the funds would be timely repaid, have yet to be paid back. (11/28/2017-12/2/2019)

$123,974.90

$125,100.00

Clients verbally complained that funds loaned to the financial advisor have only been partially paid back. (2/8/2017-11/18/2019)

$43,000.00

$48,800.00

Client complained that funds loaned to the financial advisor have only been partially paid back. (4/26/2017-10/31/2019)

$115,000.00

$115,000.00

Client verbally complained that funds loaned to the financial advisor from his IRA, with a commitment the funds would timely be restored to avoid any taxes, have only been partially paid back. (1/29/2018-9/12/2019)

$30,000.00

$24,031.00

FINRA

Without admitting or denying the findings, Pitsironis consented to the sanction and to the entry of findings that he converted $411,000 in customer funds. The findings stated that Pitsironis electronically transmitted the $411,000 in cash from a customer's securities account at his member firm to a bank account he controlled through automated clearing-house transfers, without the customer's knowledge or consent. Upon learning of Pitsironis' actions, the firm made the customer whole.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

indefinite

9/9/2019

Client complained that funds loaned to the financial advisor from his IRA, with a commitment the funds would timely be restored to avoid incurring tax penalties, have been misappropriated and yet to be paid back. (2/9/2018-8/23/2018)

$22,000.00

$26,840.00

Janney Montgomery Scott LLC

Discharged

FA was discharged after an internal investigation uncovered that the FA transferred funds via unauthorized ACHs from a client's account to a third party bank account owned and controlled by the FA.

Client alleged that Financial Advisor transferred assets from their account to a third party bank account not in the clients' name. Allegation Period 05/02/2019 to 06/11/2019.

$411,000.00

$411,000.00