Former Transamerica broker barred by SEC for Fraud

Former Transamerica broker barred by SEC for Fraud

Former Transamerica broker Pedro L. Gonzalez-Seijo was barred by the Securities and Exchange Commission after he plead guilty in January to one count of bank and securities fraud.

Broker Fraudulently Obtained $583,000 from Clients

The federal indictment alleged that Gonzalez-Seijo fraudulently obtained $583,000 from his clients from May 2013 to June 2016. He did so by taking client funds intended to be deposited into insurance accounts and instead placed them into his own account, made unauthorized withdrawals from clients’ accounts, and transferred funds into unauthorized products as well.

Gonzalez-Seijo was a broker from 1991 to 2016, serving Puerto Rican residents while registered with Transamerica Financial Advisors. He also acted as owner and president of PGS Insurance Inc.

Former Transamerica Broker Charged with Eleven Counts of Fraud 

Gonzalez-Seijo was charged with eleven counts of securities fraud and bank fraud by the U.S. Attorney’s Office of the District of Puerto Rico in August 2018 and is still awaiting sentencing.

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Dimond Kaplan & Rothstein, P.A. has vast experience with cases related to securities fraud or stockbroker misconduct. If you are looking for a securities fraud attorney to review your rights and options, the securities fraud lawyers at Dimond Kaplan & Rothstein, P.A. represent individual and institutional investors across the United States who have lost money as a result of securities fraud or stockbroker misconduct. We will aggressively pursue claims to recover your losses or damages.

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