Sotirios Pappas

Former Merrill Lynch broker Sotirios Pappas (CRD #6906891) has been suspended by FINRA for six months after failing to disclose serious financial and legal issues on his Form U4.

Pappas was registered with FINRA during two periods between 2018 and 2023 through Merrill Lynch, Pierce, Fenner & Smith Incorporated. He resigned from the firm in November 2023 while under internal review for failing to disclose a foreign criminal proceeding.

According to FINRA, Pappas failed to report three unsatisfied foreign civil judgments totaling over €700,000 and a felony fraud charge issued by a Greek criminal court in 2005. He also did not amend his Form U4 to reflect a 2023 U.S. court recognition of those judgments. These omissions violated Article V, Section 2(c) of FINRA’s By-Laws, as well as FINRA Rules 1122 and 2010.

Due to these violations, FINRA imposed a six-month suspension from associating with any FINRA member. No monetary penalties were issued as Pappas filed for Chapter 7 bankruptcy in June 2023.

If you invested with Sotirios Pappas and believe you may have suffered financial harm, contact ChapmanAlbin to learn how we may be able to help you recover losses.

Call 1-877-410-8172 or visit chapmanalbin.com to schedule a free consultation.