Ross Barish, Broker with Joseph Stone Capital, Charged with Fraud by SEC

Barish is accused of defrauding sixteen retail customers.

The Sonn Law Group is investigating allegations that Ross Barish committed fraud. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Ross Barish (CRD#: 3094364) is currently registered as a broker with Joseph Stone Capital LLC in Mineola, NY. Barish was charged by the SEC on August 13, 2020 for allegedly defrauding sixteen retail customers.

The SEC’s complaint alleges that Barish engaged in a high-cost, in-and-out trading strategy in customer accounts without conducting reasonable due diligence to determine whether the trading strategy could deliver even a minimal profit for his customers. According to the complaint, Barish also engaged in widespread unauthorized trading in customer accounts. As alleged in the complaint, Barish’s strategy resulted in over $800,000 in losses to customers, while netting Barish over $400,000 in commissions.

The complaint was filed  in federal court in Manhattan, and charges Barish with violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC’s complaint seeks permanent injunctive relief, disgorgement plus prejudgment interest, and civil penalties.

Barish has six other disclosures on his BrokerCheck report.

March 2020 Investigation

• Initiated By: United States Securities and Exchange Commission
• Description of Investigation: Securities and Exchange Commission has made a preliminary determination to recommend that the Commission file an enforcement action against, Ross Barish. This proposed action would allege that Mr. Barish violated Section 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), and Rule 10b-5 thereunder.
• Broker Comment: Representative denies that  he violated any federal securities laws, rules or regulations. In the event this matter proceeds to an enforcement action the representative intends to vigorously defend any and all claims.

April 2017 Customer Dispute

• Status: Settled
• Allegations: Allegations of: excessive trading, breach of fiduciary duty, suitability, breach of contract.
• Damage Amount Requested: $48,000.00
• Settlement Amount:  $14,900.00
• Broker Comment: Mr. Barish settled the allegations solely for the nuisance value of the claim and admits no wrongdoing in the customer account.

February 2017 Customer Dispute

• Status: Settled
• Allegations: Unsuitable transactions, churning, excessive margin.
• Damage Amount Requested: $50,000.00
• Settlement Amount:  $14,900.00
• Broker Comment: Mr. Barish settled the allegations solely for the nuisance value of the claim and admits no wrongdoing in the customer account.

December 2010 Judgment / Lien

• Judgment / Lien Amount: $2,264.00
• Judgment / Lien Type: Tax

March 2008 Customer Dispute

• Status: Denied
• Allegations: Failure to follow instructions, margin problems and statement/confirms.
• Damage Amount Requested: $21,477.00

March 2008 Customer Dispute

• Status: Denied
• Allegations: Miscellaneous sales practice and unauthorized trading.
• Damage Amount Requested: $176,923.62

Contact Us Today

The Sonn Law Group is currently investigating allegations that Ross Barish committed fraud. 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.