Easton investment advisor Gregory Loles, 52, has been barred from the securities industry by the U.S. Securities & Exchange Commission for alleging defrauding investors while he operated a Westport investment firm.
SEC alleges that Loles was the owner and operator of unregistered investment advisor Apeiron Capital Management, Inc. of Westport, and while working in that capacity, Loles defrauding investors, obtained money by making false and misleading statements, had investors transfer funds to Apeiron and then diverted that money for his private use.
In July, Loles pleaded guilty to counts of mail fraud, securities fraud, money laundering and wire fraud in the U.S. District Court for Connecticut.
Loles accepted the SEC’s ban from the securities industry while neither admitting or denying the allegations.
Specifically, he is barred from association with any investment adviser, broker, dealer, municipal securities dealer, municipal advisor, transfer agent or statistical rating organization. He can reapply for association with the industry, although that application would be subject to increased scrutiny.
