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Ronald Molo-Former Edward Jones Broker- Barred from Industry -Accused of Theft-Joliet, IL

Ronald Molo-Former Edward Jones Broker- Barred from Industry -Accused of Theft-Joliet, IL

Ronald Molo-Former Edward Jones Broker- Barred from Industry -Accused of Theft-Joliet, IL 150 150 ER

Ronald Molo Investigation

March 2022-Joliet, IL

The FINRA records of Ronald T. Molo, a broker who formerly worked for Edward Jones,  disclose 2 regulatory events, a civil suit, 5 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 10/2021,  Molo was permanently barred from FINRA in all capacities after allegations that he failed to respond to requests for information in connection with a FINRA investigation.

In October of 2021, case #2100455 was filed by the State of Illinois in regard to allegations relating to misappropriation of $800,000 of client funds and fictitious investments.   Sanctions being sought are censure, prohibition and revocation.    This case is pending.

In November of 2021, United States Securities and Exchange Commission filed Case #1:21-cv-06286 alleging that without investors’ knowledge or authorization, Molo “stole a total of $800,000 from investors, who are senior citizens by convincing them to transfer money out of their financial institution accounts for the purported investment in tax-free bonds.   In fact, the bonds did not exist.   Molo did not tell the investors that he owned the account to which he directed them to transfer their money.  Instead of investing the money as Molo had promised, he misused at least $778,000 of the investor’s money for his own use.   Molo also tried to cover up his fraud by sending approximately $22,000 of the investors’ money back to the investors for supposed interest payments from the nonexistent bonds.”  Relief sought in this case are:   disgorgement, injunction and monetary penalty other than fines.   The case is still pending.

From November of 2019 until June of 2021, four Edward Jones customers filed customer disputes alleging that Molo stole funds from them by wiring client funds to a personal bank account controlled by his spouse under the guise that there were making an investment and that he made unauthorized trades.   These customers were paid a collective total of $628,145.

In June of 2021, Edward Jones terminated Molo after allegations that clients transferred funds to an external account believed to be related to Molo.   The transfers were subsequent to Molo soliciting a purported investment.   He had been with Edward Jones since May of 2001.

If you have losses in an account handled by Ronald Molo, call for a no charge consultation to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

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