Not surprisingly the SEC permanently barred Sandru from the industry, ordered disgorgement and interest of nearly $400,000 as well as a civil penalty of $361,000. Given Sandru's financial condition it is doubtful whether the disgorgement and penalty will ever be collected.
Former clients who were victims of Sandru's fraudulent schemes have various legal options, including FINRA arbitration.
If you have information relative to this investigation or have suffered losses in an account handled by Richard Sandru, please contact us. Robert H. Rex, Esq. been helping investors recover investment losses for over twenty years. We represent clients nationwide. No charge for initial consultation.
Call us at 561 391 1900 to speak with an experience securities lawyer about your legal rights.
Visit our website or blog for more information about FINRA arbitration.