I've seen this movie so many times now. John Thomas Financial's Tommy Belesis is in jeopardy of getting kicked off planet Earth by FINRA for his many sins, and now the insurance company covering JTF for fraud suits wants out too. It appears JTF is a bucket shop, at least as far as regulators are concerned, and Belesis stands accused of bucketing customer sell orders in order to unload his own and his pals' stock at a higher price. I've worked with guys like this my entire career on the Street, and they never seem to go away. While I was writing my book I remembered a couple of the sleaziest guys I worked for - real dyed-in-the-wool scumbags - and decided to see if they were still in the biz. Most weren't, but the biggest scumbag of all is still swinging the bat. These guys are like roaches: they'd survive a nuclear holocaust just to keep pitching their shady deals. Here's another credit to our profession:
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HAHA. this is great. i KNEW there was something sketchy about that toolbag.
I used to walk by 14 wall all the time and see these young "bros" outside smoking. They would be dressed in suits and look the part of an antiquated wall streeter (think 80s), but the conversations I would over hear reflected a mix between a frat dialog recapping a Sat night and a blue collar construction worker. Due to this, I always questioned what type of operation existed in that building - sorry to generalize the other firms residing in 14w - nevertheless, it makes perfect sense now.
Do you have a link to purchase your book?
Should be available a couple days before WSOCon later this month (fingers crossed).
YESSSSSSSSSSS
could be my favorite finance professional of all time...Eddie, if he writes a book, you might be in trouble in terms of net sales
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