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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