Coral Springs resident Ronald Filoramo, 54, a former securities broker and investment adviser for Morgan Stanley Smith Barney, is accused by the U.S. Securities and Exchange Commission of stealing $761,000 from two longtime customers and spending most of it on gambling and related expenses.

A complaint filed Thursday in U.S. District Court in Miami says the thefts took place between February 2017 and October 2021 and were discovered earlier this year after Filoramo’s wife became concerned about his location and contacted his employer.

The call prompted Filoramo’s employer to review his customer transactions, which revealed the thefts and resulted in his termination, the complaint states.

Filoramo’s customers were a husband and wife who lost about $61,444 and an elderly man who controlled several accounts for his wife, children and grandchildren, according to the SEC’s lawsuit. He lost $700,000, the suit states.

According to the SEC’s complaint, Filoramo in February 2017 began recommending that the customers invest in high-yield bonds that he said were owned by a wealthy client of Morgan Stanley Smith Barney. But Filoramo never purchased any bonds for the customers, and instead told them to make their investments directly to that client, a friend of Filoramo, who then transferred nearly all of their money to Filoramo’s personal bank account.

“Filoramo, in turn, used this money to make numerous, large cash withdrawals, many of which occurred at casinos,” the complaint states.

Filoramo perpetuated the scheme by providing the customers with fraudulent documentation for the bond purchases, including screenshots from the broker-dealer’s order entry system and internal analyses of bonds, the SEC said.

https://news.yahoo.com/former-coral-...201600097.html

Hang him.

my guess is he induced the defrauded customers by telling them something like this other client who owns the bonds is in a big cash crunch and is forced to sell these high yield bonds at a HUGE discount but you must buy them directly from the client so write a check directly to them and you will also avoid fees as well.

looks like his wife got suspicious of all the trips to the casino and ratted him out. probably had some young hookies in the suite too.

he should get prison time and ofc be banned from the industry for life.

the lesson here is - be careful of who you invest with and never make a stock/bond investment check out to an individual - any individual.

This just in… this has been uncovered by a reliable source.

Jew Dave’s e-killers, adsense sex offenders and dea.gov


Did I say a reliable source?


I mean paid thugs with big tech blood money


I want to belief, but I just don’t belief it’s true

Reminds of the retard miscers bagging on the $2billion powerball winner saying he should hire an investment manager to invest his money or he'll end up broke because he bought a $50million house