SEC Bars Ex-Voya FA Serving 65-Month Prison Term
The SEC has barred a former Voya Financial Advisors representative who’s currently serving 65 months in prison for misappropriating client funds and forging a check, the regulator says.
Martin Stancik pleaded guilty in July 2017 to one count of mail fraud and one count of aggravated identity theft in connection with misappropriating over $540,000 from four broker-dealer customers between 2003 and 2015 and forging a check payable to one of his clients, the SEC says in an administrative order.
Stancik was registered with Mony Securities Corporation from July 1993 to June 2005, then with AXA Advisors from June 2005 until February 2006, and finally with Voya Financial until October 2014, the regulator says.
Stancik admitted the SEC’s findings in accepting the bar, according to the regulator.
In addition to his 2017 guilty plea, Stancik also has three customer disputes on his BrokerCheck record, starting with one from 2004 which alleged that Stancik recommended investments that were too conservative for the client. The dispute was settled for roughly $18,500, according to BrokerCheck.