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Written by 3:07 pm Blog, Current Investigations

Ex-Wells Fargo Broker James Seijas Barred from Securities Industry 

Ex-Wells Fargo Broker James Seijas Barred from Securities Industry, featured by top securities fraud attorneys, The White Law Group

FINRA Bars James Seijas after Allegations involving Q3 Trading Club Ponzi Scheme 

According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred former financial advisor James Seijas (CRD#: 2392901) when he failed to provide information in its  investigation after Seijas was “named as a defendant in a lawsuit alleging that he had misrepresented investments as part of a Ponzi scheme.” 

According to a class action lawsuit filed last April, Seijas and two others were involved in an alleged $33 million Ponzi scheme that targeted doctors in Florida. 

Seijas, along with a former trader, and a doctor, were allegedly running a cryptocurrency scheme through an entity, Q3 Trading Club from 2017 to 2019, according to an investor lawsuit filed in Florida. 

Seijas and the other two individuals, reportedly took money from 100 entities and individuals, many of them doctors, purportedly promising to trade cryptocurrency using a successful proprietary algorithm, according to the lawsuit. 

The lawsuit alleges that less than $10 million went to trading cryptocurrencies, while $20 million of their clients’ funds were allegedly transferred to the defendants’ personal bank accounts and were spent on luxury items, according to the investor lawsuit. 

Wells Fargo Clearing Services is also reportedly named in the complaint.  

Siejas currently has two pending complaints on his broker record for allegations of Involvement in a “fraudulent hedge fund” and “misrepresenting investments as part of a Ponzi scheme.”
According to his broker record, Seijas was reportedly affiliated with the following firms during his career in the securities industry, among others: 

11/13/2013 – 03/06/2019, WELLS FARGO CLEARING SERVICES, LLC (CRD#:19616), SHORT HILLS, NJ
09/27/2013 – 11/20/2013, TD AMERITRADE, INC. (CRD#:7870), MORRISTOWN, NJ
07/19/2010 – 09/16/2013, FIDELITY BROKERAGE SERVICES LLC (CRD#:7784), WAYNE, NJ
12/01/2008 – 05/19/2010, BARCLAYS CAPITAL INC. (CRD#:19714), NEW YORK, NY  

Potential Lawsuits to Recover Financial Losses 

When brokers violate securities laws, such as making unauthorized transactions or unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.    

If you have suffered losses investing with James Seijas, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510. 

The foregoing information, which is all publicly available, is being provided by The White Law Group. 

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. For more information, please visit our website, www.whitesecuritieslaw.com. 



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