John Thomas Financial: Difference between revisions - Wikipedia

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{{Use dmy dates|date=JulyOctober 20112020}}▼

{{Infobox company

| name = John Thomas Financial

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| founder = Thomas Belesis, CEO and President

| location = [[14 Wall Street]]<br/>New York City, U.S.

| num_employees = Almost 200<ref>{{cite news | url=https://www.investmentnews.com/article/20150115/free/150119951/goodbye-tommy-belesis-we-wont-miss-you | title=Goodbye, Tommy Belesis. We won't miss you. | first=Bruce | last=Kelly | work=Investment News | date=January 15, January 2015}}</ref><ref>{{cite news | url=https://dealbreaker.com/2013/06/cold-call-where-john-thomas-financial-hath-cold-called | title=Cold Call Where John Thomas Financial Hath Cold Called! | first=BESS | last=LEVIN | work=Deal Breaker | date=June 14, June 2013}}</ref>

| area_served = Worldwide

| industry = Independent [[Broker-dealer]]/[[Wealth Management]]

| products = [[Financial Servicesservices]]

| parent =

| homepage =

}}

'''John Thomas Financial''' was a privately held [[financial services]] firm located in the [[Financial District, Manhattan|Financial District]] of New York City. It closed in July 2013 after its founder, [[Thomas Belesis|Anastasios "Thomas" Belesis]] was sued by the [[Securities and Exchange Commission]] for deceiving investors.<ref>{{cite news |title=Belesis Brothers Join New Broker After John Thomas Closes |first=Zeke |last=Faux |date=1 August 2013 |publisher=Bloomberg |url=https://www.bloomberg.com/news/2013-08-01/belesis-brothers-join-new-broker-after-john-thomas-closes.html |accessdate=4 October 2013}}</ref><ref name="boiler">{{cite news|last=Whitehouse |first=Kaja |url=http://www.nypost.com/p/news/business/financial_finale_vPYmkoK5S19zEKvWWQ9trJ |title=Financial finale &#124; New York Post |publisherwork=Nypost.comNew York Post|date=2013-07-10 |accessdate=2013-12-05}}</ref>

In 2009, John Thomas Financial moved its offices into [[14 Wall Street]], where it occupied the entire 23rd floor.<ref>{{cite web |url=http://www.johnthomasbd.com/media/news |title=In the news: John Thomas Financial Announces Major Expansion Plans |date=27 July 2009 |publisher=John Thomas Financial |accessdate=2011-03-04}}</ref> The firm was founded in 2007 by Thomas Belesis, who served as CEO.<ref>{{cite web |title=John Thomas Financial CEO Thomas Belesis Reveals His Plans for Expansion in an Exclusive Interview With CNBC|url=http://www.marketwire.com/press-release/john-thomas-financial-ceo-thomas-belesis-reveals-his-plans-expansion-exclusive-interview-1381679.htm|work=MarketWire|accessdate=7 June 2011}}</ref> Initially a three-person brokerage, it grew to 200 representatives and staff providing retail brokerage, investment banking and corporate advisory services.<ref>{{cite web |title=John Thomas Financial Chief Economist Says Investors Should Maintain a Bullish Posture|url=http://www.businesswire.com/news/home/20110603005502/en/John-Thomas-Financial-Chief-Economist-Investors-Maintain|work=BusinessWire|accessdate=3 June 2011}}</ref> It also added a private wealth management affiliate.<ref>{{cite web |title=Urbealis named President of JTF Private Wealth Management|url=http://www.wealthadviser.co/2011/05/10/114902/urbealis-named-president-jtf-private-wealth-management|work=WealthAdviser|accessdate=7 June 2011}}</ref>

In addition to its retail [[broker]]age services, the firm raised [[convertible debt]] for [[start-up companies|startups]] and new companies. <ref>{{cite news | url=https://www.aol.com/2010/02/11/revenge-of-the-wall-street-traders-the-fat-cats-strike-back/ | title=Revenge of the Wall Street Traders: The Fat Cats Strike Back | first=MOE | last=TKACIK | work=[[AOL]] | date=February 11, February 2010}}</ref>

==Leadership==

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==Controversy==

The ''[[New York Post]]'' looked into the "shady" past of Thomas Belesis in an April 2012 article.<ref name="Shady Past for Wall Street Mr. Clean">{{cite news|title=Shady Past for Wall Street Mr. Clean|url=http://www.nypost.com/p/news/business/shady_past_for_wall_st_mr_clean_m20yXSYlcdqvgSeE4hhvRO | work=New York Post | first=Kaja|last=Whitehouse|date=6 April 2012}}</ref> In early 2013, another series of ''New York Post'' articles covered an investigation by the [[Financial Industry Regulatory Authority]] (FINRA) into the dealings of John Thomas Financial.<ref name="John Thomas Financial being probed by brokerage industry, SEC and FBI">{{cite news|title=John Thomas Financial being probed by brokerage industry, SEC and FBI|url=http://www.nypost.com/p/news/business/cameo_calamity_LhJthdmD5SGLgDzTEFRc5J | work=New York Post | first=Kaja|last=Whitehouse|date=7 February 2013}}</ref> The articles reported on Belesis being served with a [[Wells notice]], and the potential for the investigation to result in prosecution.<ref name="Cameo Calamity II: Belesis in cross hairs">{{cite news|title=Cameo Calamity II: Belesis in cross hairs|url=http://www.nypost.com/p/news/business/cameo_calamity_ii_belesis_in_cross_EW2itdeUgFjTstQqH9JuSK | work=New York Post | first=Kaja|last=Whitehouse|date=14 February 2013}}</ref> [[Bloomberg L.P.]] interviewed former employees and questioned whether the business practices and sales tactics of John Thomas Financial constituted those of a boiler room.<ref name="boiler"/><ref>{{cite news | title=John Thomas Financial: The Other Side of Wall Street | url=https://www.bloomberg.com/news/articles/2013-02-28/john-thomas-financial-the-other-side-of-wall-street | first=Zeke | last=Faux | work=[[Bloomberg L.P.]] | date=28 February 28, 2013}}</ref>

==References==

{{reflist}}

▲{{Use dmy dates|date=July 2011}}

[[Category:Former investment banks of the United States]]

{{Investment banks}}

[[Category:Investment banks]]

[[Category:American companies established in 2007]]

[[Category:Financial services companies established in 2007]]

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[[Category:Financial services companies disestablished in 2013]]

[[Category:Banks disestablished in 2013]]

[[Category:CompaniesFinancial services companies based in New York (state)]]