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News stories tagged with "securities"

Mark J. Gillis. Photo: Courtesy <em>Adirondack Daily Enterprise</em>
Mark J. Gillis. Photo: Courtesy Adirondack Daily Enterprise

Local broker barred for fraud

An investment banker and securities broker from Saranac Lake has been barred from the securities industry for defrauding his customers out of hundreds of thousands of dollars.

Mark J. Gillis and the financial management firm he co-owns, Hudson Valley Capital Management, have been expelled for using customer funds to cover losses caused by his improper day trading.

That's according to an investigation by the Financial Industry Regulatory Authority, the independent corporation that regulates the securities industry in the U.S.  Go to full article

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