Ronald A. Pallek

The Securities and Exchange Commission (SEC) has barred Illinois resident Ronald A. Pallek from the securities industry for conducting a fraudulent investment scheme that raised over $1.5 million from at least 87 investors.

From February 2021 to September 2023, Pallek acted as an unregistered investment adviser, promising investors he would double their money in a year using an options trading strategy called the “Iron Condor.” In exchange for compensation, he exercised full control over the funds.

According to the SEC, Pallek misrepresented the risks involved, falsely claimed he had reserve funds to cover losses, and misused investor money—resulting in nearly $1 million in losses. He also created fake account statements to report non-existent profits and made Ponzi-style payments to earlier investors to keep the scheme afloat.

On March 12, 2025, a federal court entered a judgment permanently enjoining Pallek from violating antifraud provisions of the federal securities laws. As of June 3, 2025, he is barred from associating with any investment adviser, broker, dealer, or related financial entities.

If you invested with Ronald A. Pallek or were promised high returns through his options trading program and suffered losses, you may have legal options. Contact ChapmanAlbin today for a free consultation.