How To Recover Investment Losses With Demitrios Hallas and PHX Financial

Did you or someone you know lose money with Demitrios Hallas, a former broker with PHX Financial in New York, New York? If so, the attorneys at Stoltmann Law Offices are interested in speaking with you about how you may be able to bring a claim against his former firm in the Financial Industry Regulatory Authority (FINRA) on a contingency fee basis. Mr. Hallas was accused of knowingly or recklessly trading unsuitable investment products in the accounts of five customers and misappropriating more than $170,000 from one of those customers by the Securities and Exchange Commission (SEC) yesterday. According to the complaint, Hallas targeted unsophisticated customers with little to no investing experience and modest incomes, net worth, and low-risk investment strategies. Hallas allegedly traded 179 daily leveraged exchange traded funds (ETFs) and exchange traded notes (ETNs) that were high-risk, illiquid and volatile and not suitable for the clients. He did this in a little over a year’s time and generated commissions and fees for himself of $128,000. Hallas also misappropriated more than $170,000 in funds from one customer and deposited those funds into his personal bank account. He then used the money to pay credit card bills and rent payments. These are all against securities laws.

According to Hallas’ FINRA Broker Check report, he was previously registered with First Union Securities, HSBC Brokerage Inc., McDonald Investments, Chase Investment Services, Sorrento Pacific National, Ameriprise Financial, PNC Investments, Aegis Capital Corp, Santander Securities, ForeFront Capital Markets and PHX Financial Inc. in New York, New York from August 2015 until December 2015. He has two customer disputes against him and is currently not registered within the industry. Our number is 312-332-4200 and attorneys are standing by to take your call regarding losses you may have suffered.