Broker Fined And Suspended For Seven Months For False & Misleading Statements
Gregory Antonius Lewis (CRD #2793976) is an actively registered securities broker. The Financial Industry Regulatory Authority (FINRA) indicates that this financial advisor is from St. Petersburg, FL. Since June of 2013, Mr. Lewis has been registered as a representative of Stockkings Capital LLC. Previously, he was associated with Caldwell International Securities and John Thomas Financial.
In March of 2022, FINRA announced sanctions against Gregory Lewis and broker-dealer Stockkings Capital LLC. They will pay a $100,000 fine and Mr. Lewis will serve a seven month suspension. He stands accused of making false statements to investors. Here, our Miami investment fraud lawyers provide an overview of the allegations against FINRA securities broker Gregory Antonius Lewis.
Suspended Broker: Gregory Antonius Lewis of Stockkings Capital LLC
Registered securities brokers owe certain obligations to their customers. Brokerage firms are, among other things, responsible for properly supervising their registered representatives. When investors are harmed due to the negligent or otherwise improper conduct of brokers, both the individual representative and the brokerage firm may bear liability. In this case, FINRA alleged that Stockkings Capital LLC broker Gregory A. Lewis created and transmitted investment material that:
- Made false and unsubstantiated statements;
- Exaggerated potential investment returns; and
- Materially misled investors.
The investment material was related to the financial technology platform that Stockkings Capital LLC was purportedly developing. FINRA contends that Mr. Lewis made unwarranted and unsupported claims about the potential valuation of the financial technology platform as well as the potential revenue that the platform could generate.
Beyond that, Mr. Lewis was also cited for misclassifying approximately $40,000 worth of his personal expenses as the firm’s business expenses.
FINRA Disciplinary Action: Fine and Suspension
FINRA took enforcement action against both Gregory A. Lewis and his member firm Stockkings Capital LLC. Without admitting or denying any of the allegations raised by the agency, both Mr. Lewis and the brokerage firm have consented to the proposed penalties. Here is an overview of the sanctions as listed by FINRA:
- Stockkings Capital LLC will pay a $15,000 fine;
- Gregory A. Lewis and Stockkings Capital LLC will jointly pay an $85,000 fine; and
- Gregory A. Lewis will serve a seven month suspension from the industry.
The suspension has already started. According to FINRA, Mr. Lewis of Stockkings Capital LLC will serve his suspension from April 4th of 2022 through November 3rd of 2022. At that time, Mr. Lewis will be eligible to return to the securities industry.
Call Our Miami Securities Fraud Attorney for Immediate Legal Help
At Carlson & Associates, P.A., we are devoted to fighting for the legal rights and financial interests of investors. If you lost a significant amount of money because your financial advisor made false or materially misleading statements, you may be able to hold them (or their brokerage firm) liable for your damages. Call our Miami law office today to set up a confidential initial review of your case. Our investor losses firm represents investors in South Florida and beyond.