Registration revoked for securities cold caller
LITTLE ROCK (AP) - A New York broker pitching stock to strangers over the phone happened to cold call an examiner with the Arkansas Securities Department and wound up losing his registration.
The department said Thursday that it revoked the registration of Junmo Hong of New York-based John Thomas Financial for securities fraud and other alleged violations.
The department said Hong "made unfounded representations" about a stock and falsely claimed to have spoken to the prospective client several times in the past. The agency says one supposed call in 2006 would have been when Hong was 14 years old.
Hong signed a consent order acknowledging the violations. Hong doesn't have a listed phone number and calls Thursday to John Thomas Financial did not go through.
Hong was also cited for violating Arkansas' do-not-call list.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.