March 23, 2011 Comments (0) Blog, Securities Fraud

Former Sentinel Securities Broker Charged By SEC

(Last Updated On: July 17, 2015)

According to the Investment News, James J. Konaxis, a former broker, has been charged with defrauding the widow of a victim of the Sept. 11, 2001, attack on the Pentagon of much of her victim compensation settlement money.

Apparently, the Securities and Exchange Commission has charged the Beverly, Mass.-based representative with churning the victim’s accounts, which fell to about $1.6 million in value from $3.7 million between April 2008 and last May. During that time, Mr. Konaxis earned about $550,000 in commissions on the accounts of the victim, who was identified only as “S.T.”

Mr. Konaxis has consented to a partial judgment barring him from participating in any penny stock offering. The SEC also will seek disgorgement of the ill-gotten gains plus prejudgment interest and a monetary penalty. The SEC said that it is conducting separate administrative proceedings against Mr. Konaxis in which he has consented to be barred from association with any broker-dealer, investment adviser, municipal-securities dealer or transfer agent. At the time of the fraud, he worked as a registered representative at broker-dealer Sentinel Securities Inc.

If you have questions about investments you made with Mr. Konaxis or Sentinel Securities, the securities attorneys of The White Law Group may be able to help. For a free consultation, call the firm’s Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors and financial advisors in securities litigation matters. If you have questions about the way your investments have been handled, the securities attorneys of The White Law Group may be able to help. For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

-->