{"id":4298,"date":"2017-04-25T21:57:07","date_gmt":"2017-04-26T02:57:07","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4298"},"modified":"2022-03-11T13:40:51","modified_gmt":"2022-03-11T19:40:51","slug":"sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/","title":{"rendered":"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments<\/a> in five clients accounts and misappropriating over $170K from these customers. The regulator is seeking a permanent injunction and the return of ill-gotten gains, along with interest and penalties.<\/p>\n

According to the SEC, Hallas repeatedly traded investments that were not appropriate for these customers. In just over a year, the broker allegedly traded 179 daily leveraged ETFs and ETNs. both of which are generally \u201crisky, complex, and volatile.\u201d The net loss involving all positions was about $150K.<\/p>\n

His customers were not experienced or sophisticated investors and they could not handle the degree of volatility and risk to which he exposed them. Meantime, Hallas made about $128K in fees and commission.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments in five clients accounts and misappropriating over $170K from these customers. The regulator is seeking a permanent injunction and the return of ill-gotten gains, along with interest and penalties. According to the SEC, Hallas repeatedly traded […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3774,3801,3760],"tags":[],"class_list":["post-4298","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-broker-dealers","category-sec","category-sec-enforcement"],"yoast_head":"\nSEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes — Investor Lawyers Blog — April 25, 2017<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments in five clients — April 25, 2017\" \/>\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\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes — Investor Lawyers Blog — April 25, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments in five clients — April 25, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & 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":"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes — Investor Lawyers Blog — April 25, 2017","description":"The US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments in five clients — April 25, 2017","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\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/","twitter_card":"summary_large_image","twitter_title":"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes — Investor Lawyers Blog — April 25, 2017","twitter_description":"The US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments in five clients — April 25, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes","datePublished":"2017-04-26T02:57:07+00:00","dateModified":"2022-03-11T19:40:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/"},"wordCount":379,"articleSection":["Broker Fraud","Broker-Dealers","SEC","SEC Enforcement"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/","url":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/","name":"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes — Investor Lawyers Blog — April 25, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-04-26T02:57:07+00:00","dateModified":"2022-03-11T19:40:51+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The US Securities and Exchange Commission has filed charges against broker Demitrios Hallas accusing him of making unsuitable investments in five clients — April 25, 2017","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-files-broker-fraud-charges-alleging-unsuitable-investments-involving-exchange-traded-funds-exchange-traded-notes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Files Broker Fraud Charges Alleging Unsuitable Investments Involving Exchange Traded-Funds and Exchange Traded-Notes"}]},{"@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 & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-17k","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=4298"}],"version-history":[{"count":2,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4298\/revisions"}],"predecessor-version":[{"id":24659,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4298\/revisions\/24659"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=4298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=4298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=4298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}