The Securities and Change Fee barred an ex-Edward Jones dealer indicted in 2021 for defrauding purchasers out of about $800,000, in keeping with an administrative continuing doc filed by the SEC on Wednesday.
Ronald T. Molo allegedly spent a few of the cash he took from victims to pay for “at the very least two automobiles,” bank card balances, lottery tickets and residential mortgages for himself and his in-laws, in keeping with the Justice Division indictment of Nov. 15, 2021.
In Might, Molo was sentenced to 2 years in jail, in keeping with court docket paperwork.
On Sept. 27, 2022, a last judgment was entered towards Molo in U.S. District Courtroom for the Northern District of Illinois. He was additionally ordered to pay $815,104 in disgorgement and prejudgment curiosity.
The SEC “deems it acceptable and within the public curiosity that public administrative proceedings be, and hereby are, instituted” towards Molo, the regulator mentioned in the doc, posted on its web site Wednesday.
“In anticipation of the establishment of those proceedings,” Molo submitted a proposal of settlement that the SEC accepted, it mentioned.
