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SEC Bars Longtime Transamerica Broker for Stealing

The Securities and Exchange Commission has barred Pedro Gonzalez-Seijo, a broker formerly affiliated with Transamerica Financial Advisors Inc., after he pled guilty to bank fraud earlier this year.

The Securities and Exchange Commission has barred Pedro Gonzalez-Seijo, a broker formerly affiliated with Transamerica Financial Advisors Inc., after he pled guilty to bank fraud earlier this year.

According to the SEC, he would accept checks from his clients that were meant to be deposited into a variable annuity account, but instead and without authorization, would deposit the money directly into his bank account. Between 2013 and 2016, he stole a total of $480,800 from five clients.

According to his Brokercheck profile, Gonzalez-Seijo was permitted to voluntarily resign after Transamerica initiated an internal review pertaining to allegations of “unauthorized check withdrawals made from two clients’ variable annuity contracts that were subsequently deposited into an unauthorized account.”

Gonzalez-Seijo is a resident of San Juan, Puerto Rico and was associated with Transamerica from September 1991 through May 2016. He held a FINRA Series 6 license.

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