Barish Charged with Fraud by SEC
From the Desk of Jim Eccleston at Eccleston Law LLC:
Ross Barish, an advisor at Joseph Stone Capital, LLC, has been charged by the U.S. Securities and Exchange Commission (“SEC”) with defrauding customers. According to the SEC, Barish defrauded sixteen retail customers, resulting in over $800,000 in customer losses and generating $400,000 in commissions for Barish.
According to a press release from the SEC, “Barish engaged in a high-cost, in-and-out trading strategy in customer accounts without conducting reasonable due diligence to determine whether the trading strategy could deliver even a minimal profit for his customers.” The SEC also alleged that Barish made unauthorized trades in customer accounts.
The SEC alleged that Barish’s conduct violated the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. The SEC is seeking a permanent injunction, disgorgement, prejudgment interest and civil penalties.
The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities Fraud, Compliance Protection, Breach of Fiduciary Duty, FINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.
