“NJ Broker Found Guilty of Insider Trading,” ThinkAdvisor

“NJ Broker Found Guilty of Insider Trading,” ThinkAdvisor

Shareholder Robert Rabinowitz spoke to ThinkAdvisor regarding The Securities and Exchange Commission winning a jury trial in U.S. District Court, Atlanta against Raymond Pirello Jr. He was found guilty on all five SEC claims, last serving as a FINRA-registered broker for Garden State Securities in Red Bank, New Jersey.

When asked if the firm Garden State Securities, who are represented by Becker, was aware of Pirello’s insider trading activities, Rabinowitz told ThinkAdvisor, “Absolutely positively not. He never would have been permitted to continue to work there had the firm had any inkling what he was doing.” Once Garden State became aware of his “malfeasance,” the firm terminated him, he said, adding that Garden State cooperated with the SEC on its investigation.

Read the full article here.