FINRA barred former Financial West Group broker Steven Robert Aron of Agoura Hills, California after allegedly soliciting investments for private securities while failing to notify his employing firm of this outside business activity
According to the findings, Aron facilitated the investments from several customers at Financial West and an additional customer of his certified public accounting business.
The investigation states that Aron's customers contributed a total of $325,000 towards an investment in a local pawn and jewelry business, conducted through Aron's personal business known as "Pacific Investments." The customers who invested with Aron's Pacific Investments allegedly contributed their money with the expectation of a 9% return on the investment.
FINRA charged Aron with failing to notify employer Financial West of the Pacific Investments outside business activity as well as the existence of another Aron entity, "Canwood Investments."
Following the discovery of Aron's unreported outside business activities, Financial West allowed Aron to resign.
After Aron complied with FINRA's first, but not second request for further information, he was banished from the securities industry, less than 10 years after first becoming registered.
If you have invested with Steven Robert Aron, Financial West Group or with another broker or financial professional who has facilitated your investments through private securities transactions, or other outside business activity and such an extracurricular venture has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.