10.0David P Neuman
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STEVEN PAGARTANIS Sentenced to Prison – East Setauket, NY


STEVEN PAGARTANIS Sentenced to Prison – East Setauket, NY

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STEVEN PAGARTANIS Sentenced to Prison – East Setauket, NY

Steven Pagartanis, formerly with Lombard Securities, Sentenced to 170 Months in Prison


Have you lost money with financial advisor Steven Pagartanis of East Setauket, New York?  We are continuing to look into allegations made against Steven Pagartanis, who was charged with securities fraud and mail and wire fraud by the U.S. Attorney for the Eastern District of New York last year.  It was alleged that Pagartanis induced investors to invest $13 million in Genesis Land Development Company, a purported Canadian land development company.  Instead, it was alleged that investors lost over $8 million, and that Pagartanis used some of the money for personal expenses and extravagant purchases.


In January 2020, Pagartanis was sentenced to 170 months in prison.  He was also ordered to pay more than $6.5 million in restitution.


Pagartanis was previously the subject of allegations made by both the Securities and Exchange Commission (SEC) and FINRA, the Financial Industry Regulatory Authority. FINRA barred Pagartanis from the securities industry after he failed to respond to a FINRA investigation.  FINRA was investigating Pagartanis regarding allegations that he stole or misappropriated customer funds and also made fraudulent misrepresentations.


Steven Pagartanis was a financial advisor and registered representative of Lombard Securities from September 2017 to March 2018.  He was also affiliated with Cadaret, Grant & Company from September 2012 to March 2017.  He worked at a branch office in East Setauket, New York.  Pagartanis has been the subject of at least three customer cases, including at least one complaint about “Genesis” Company.


Brokerage firms like Lombard Securities and Cadaret, Grant & Company have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.


Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New York.  Our attorneys have represented over one thousand investors against many brokerage firms in the past.


Click to view:  Pagartanis, Steven FINRA AWC

Click to view:  Pagartanis, Steven SEC Complaint


If you lost money with Steven Pagartanis, Genesis Land Development Company, or Lombard Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.


Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman


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