Financial Talker Loses Bid To Block SEC Hearing
February 3, 2014 at 3:58 AM (PT)
Financial talk host and hedge fund manager GEORGE JARKESY JR., whose show has appeared on stations in several markets, has been denied his bid to block the SEC from holding an administrative hearing in the government's case against him TODAY (2/3), reports LAW360. U.S. District Judge BERYL A. HOWELL denied JARKESY's motion for a temporary restraining order to block the hearing in the case.
JARKESY, who asserted due process claims in his motion, and his PATRIOT 28 LLC (formerly JOHN THOMAS CAPITAL MANAGEMENT) company are facing an SEC lawsuit filed in MARCH of last year accusing him of fraud and being involved with the ANASTASIOS "TOMMY" BELESIS "boiler room" operation. BELESIS settled his fraud case in DECEMBER, agreeing to a $1 million fine and one-year ban from the securities industry. The suit against JARKESY seeks up to $100 million in fines and a lifetime ban from being an officer or director in the securities business.