Sotirios Pappas is Facing a FINRA Suspension
Sotirios Pappas (CRD #: 6906891) has been suspended by FINRA. This disclosure appears on his BrokerCheck record, accessed on September 14, 2025. Keep reading if you have questions regarding his alleged conduct.
Regulatory Action
On June 9, 2025, Sotirios Pappas entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he failed to disclose to his firm that he had been charged with a felony and had three outstanding judgments. The findings alleged that a Greek civil court issued three judgments totaling over 700,000 Euros in a lawsuit brought by one of his securities customers, which he allegedly never satisfied. He was also allegedly charged with one count of felony fraud involving investments in a Greek civil court.
As part of the terms of the AWC, Sotirios Pappas is subject to a six-month suspension. In light of his financial status, FINRA did not impose a monetary sanction. You can read a copy of his AWC here.
Employment Separation After Allegations
On October 30, 2023, Sotirios Pappas voluntarily resigned from Merrill Lynch, Pierce, Fenner & Smith following allegations that he engaged in fraud and violated the Greek criminal code.
Investigation
On October 3, 2023, the Department of Justice announced that it had initiated extradition proceedings as a result of a Greek fraud conviction.
Bankruptcy
On June 28, 2023, Sotirios Pappas filed for bankruptcy.
High Standards of Commercial Honor
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Fraud violates this rule.
Background Information
Sotirios Pappas has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
Kurta Law Can Help
If you worked with Sotirios Pappas and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.
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