Roland Terrence Molo, Formerly of Edward Jones, Suspended by FINRA Following Failure to Respond to Requests for Information

INVESTORS: FINRA has suspended Roland Terrence Molo from the securities industry indefinitely after he failed to respond to FINRA’s requests for information.

Roland Terrence Molo (CRD: 4371241) was registered as a broker with Edward Jones from 2001 until 2021. Molo has no other experience in the securities industry.

Molo has nine disclosures on his BrokerCheck report. 

November 2021 Civil Judgment

• Status: Pending
• Initiated By: United States Securities and Exchange Commission
• Allegations: The Securities and Exchange Commission (the “Commission”), for its Complaint against Ronald T. Molo, alleges that, without investors’ knowledge or authorization, he stole a total of $800,000 from investors, who are senior citizens, by convincing them to transfer money out of their financial institution accounts for the purported investment in tax-free bonds. In fact, the bonds did not exist. Molo did not tell the investors that he owned the account to which he directed them to transfer their money. Instead of investing the money as Molo had promised, he misused at least $778,000 of the investors’ money for his own personal use. Molo also tried to cover up his fraud by sending approximately $22,000 of the investors’ money back to the investors for supposed interest payments from the nonexistent bonds, using altered cashier’s checks from his bank, funded with money drawn from Molo’s own personal account. When the financial institution discovered Molo’s fraud, it fired him. By engaging in the fraudulent conduct described above, Molo violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Section 17(a) of the Securities Act, and Sections 206(1) and (2) of the Advisers Act.

October 2021 Regulatory Judgment

• Status: Final
• Initiated By: Illinois
• Allegations: Allegations relate to misappropriation of ~$800,000.00 of client funds and fictitious investments. See Illinois Securities Department Notice of Hearing dated October 26, 2021 in matter number 2100455

September 2021 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Respondent Molo failed to respond to FINRA requests for information.
• Resolution: Letter
• Sanctions: Suspension
• Registration Capacities Affected: All Capacities
• Duration: Indefinite
• Duration Explanation: Continues until required information is provided to FINRA or the suspension converts to a bar.
• Start Date: 10/25/2021
• Regulator Statement: Pursuant to FINRA Rule 9552 and in accordance with FINRA’s Notice of Suspension letter dated September 30, 2021, Molo is suspended on October 25, 2021 from associating with any FINRA member firm in all capacities. If Molo fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on January 3, 2022 from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(h).

June 2021 Customer Dispute

• Status: Settled
• Allegations: Client alleges former FA stole funds from them by wiring client funds to a bank account controlled by former FA’s spouse under the guise that they were making an investment.
• Settlement Amount: $263,119.54

June 2021 Customer Dispute

• Status: Settled
• Allegations: Client alleges former FA stole funds from them by wiring client funds to a bank account controlled by former FA’s spouse under the guise that they were making an investment.
• Settlement Amount: $329,644.85

June 2021 Customer Dispute

• Status: Settled
• Allegations: Client alleges former FA stole funds from them by wiring client funds to a bank account controlled by former FA’s spouse under the guise that they were making an investment.
• Settlement Amount: $282,237.50

June 2021 Employment Separation After Allegations

• Firm Name: Edward Jones
• Termination Type: Discharged
• Allegations: Registered representative was terminated after clients transferred funds to an external account believed to be related to the registered representative. The transfers were subsequent to the registered representative soliciting a purported investment.

November 2019 Customer Dispute

• Status: Settled
• Allegations: The client alleges that the financial advisor made unauthorized trades. The client further alleges that the advisor failed to advise him that early payment of his Brighthouse VUL policy could result in it being converted to a Modified Endowment Contact and failed to provide him information that the policy had so converted.
• Settlement Amount: $16,000.00
• Broker Comment: After completion of the firm’s investigation, client’s claim was resolved in the amount of $16,000.00.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Roland Terrence Molo. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.