{"id":26730,"date":"2022-04-21T10:37:21","date_gmt":"2022-04-21T15:37:21","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=26730"},"modified":"2022-04-21T10:37:21","modified_gmt":"2022-04-21T15:37:21","slug":"transamerica-financial-advisors-broker-fined","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/","title":{"rendered":"Ex-Transamerica Financial Advisors Broker Scott Allen Fries Ordered To Pay Over $747K For Allegedly Defrauding Investors"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">SEC Obtains Default Judgment Against Former Cincinnati, Ohio Registered Representative<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Securities and Exchange Commission (SEC) has obtained a default judgment against Scott Allen Fries. He was a Transamerica Financial Advisors registered representative from 2014 to 2019.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The regulator\u2019s amended complaint accuses the former broker and investment advisor of raising approximately $458K from at least ten investors, including customers from the brokerage firm, and using the funds to pay for his personal expenses. Fries is barred from further fraud violations and must pay disgorgement of $428,334.53, a civil penalty of $208,500, and a prejudgment interest of $110,548.02.<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/\"  title=\"Continue Reading Ex-Transamerica Financial Advisors Broker Scott Allen Fries Ordered To Pay Over $747K For Allegedly Defrauding Investors\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SEC Obtains Default Judgment Against Former Cincinnati, Ohio Registered Representative\u00a0 The Securities and Exchange Commission (SEC) has obtained a default judgment against Scott Allen Fries. He was a Transamerica Financial Advisors registered representative from 2014 to 2019.\u00a0 The regulator\u2019s amended complaint accuses the former broker and investment advisor of raising approximately $458K from at least [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":26731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,4107],"tags":[3026,4493],"class_list":["post-26730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-transamerica","tag-broker-fraud","tag-transamerica-financial-advisors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ex-Transamerica Financial Advisors Broker Fined Over $747K<\/title>\n<meta name=\"description\" content=\"Ex-Transamerica Financial Advisors broker, Scott Allen Fries has been fined over $747K for allegedly defrauding investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ex-Transamerica Financial Advisors Broker Fined Over $747K\" \/>\n<meta name=\"twitter:description\" content=\"Ex-Transamerica Financial Advisors broker, Scott Allen Fries has been fined over $747K for allegedly defrauding investors.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/04\/tingey-injury-law-firm-veNb0DDegzE-unsplash-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ex-Transamerica Financial Advisors Broker Fined Over $747K","description":"Ex-Transamerica Financial Advisors broker, Scott Allen Fries has been fined over $747K for allegedly defrauding investors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/","twitter_card":"summary_large_image","twitter_title":"Ex-Transamerica Financial Advisors Broker Fined Over $747K","twitter_description":"Ex-Transamerica Financial Advisors broker, Scott Allen Fries has been fined over $747K for allegedly defrauding investors.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/04\/tingey-injury-law-firm-veNb0DDegzE-unsplash-1.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Ex-Transamerica Financial Advisors Broker Scott Allen Fries Ordered To Pay Over $747K For Allegedly Defrauding Investors","datePublished":"2022-04-21T15:37:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/"},"wordCount":391,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/04\/tingey-injury-law-firm-veNb0DDegzE-unsplash-1.jpg","keywords":["broker fraud","Transamerica Financial Advisors"],"articleSection":["Broker Fraud","Transamerica"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/","url":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/","name":"Ex-Transamerica Financial Advisors Broker Fined Over $747K","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/04\/tingey-injury-law-firm-veNb0DDegzE-unsplash-1.jpg","datePublished":"2022-04-21T15:37:21+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Ex-Transamerica Financial Advisors broker, Scott Allen Fries has been fined over $747K for allegedly defrauding investors.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/04\/tingey-injury-law-firm-veNb0DDegzE-unsplash-1.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/04\/tingey-injury-law-firm-veNb0DDegzE-unsplash-1.jpg","width":640,"height":427,"caption":"Transamerica Financial Advisors broker fined"},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/transamerica-financial-advisors-broker-fined\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Ex-Transamerica Financial Advisors Broker Scott Allen Fries Ordered To Pay Over $747K For Allegedly Defrauding Investors"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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