The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker John Chrysadakis. According to his publicly available FINRA BrokerCheck report, John Chrysadakis has been the subject of a FINRA regulatory sanction.

John Chrysadakis was a Connecticut based securities broker. He worked in the securities industry for nine years. During his career, he was registered with two different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Park Avenue Securities (2009)
  • Northwestern Mutual Investment Services (2010-2019)

The Allegations

John Chrysadakis was officially sanctioned by FINRA in January 2020. The findings in this matter state that Chrysadakis failed to comply with a FINRA investigation into why he resigned from his position at Northwestern Mutual Investment Services. Apparently the firm had been investigating John Chrysadakis for alleged fraudulent activities that included forging non-variable insurance forms and submitting non-variable policy applications without the customers’ authorization. A customer also filed a complaint against him alleging that he converted approximately $100,000 from them. Due to this alleged failure to comply, John Chrysadakis was barred from acting as a securities broker in any fashion.

What Does This Mean?

Forgery is a serious accusation for anyone, but can be especially dangerous when coming from a securities broker. This is because brokers are required to act responsibly towards their clients– this is known as their fiduciary duty. This duty serves as the foundation of trust between an investor and a broker, and brokers that violate this duty work to erode that trust. Forgery is one way this can be done, and it involves brokers assuming the identity of their client for the purpose of signing documents. This can often completely dismiss the investor from the process entirely, and remove control from their hands. Often, such as in the case of John Chrysadakis, brokers will use this to commit fraudulent acts.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with John Chrysadakis, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.