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FROM THE - Files of Jaime Naynudel – Financial Analyst (Latin America)
~Contributed & Written by Kenneth Rijock ~
Published on April 1st 2016
Gary James Lundgren, who has been permanently banned from associating with any securities firm by FINRA, has chosen to defy the law, as handed down in the ruling of the National Adjudicatory Council. He has placed his two grown sons, James Lundgren, and ZacGary Lundgren, into unlicensed Panamanian shell companies, and through them, intends to trade securities in the United States. They are fronting for their father, who gives the orders.
According to sources with personal knowledge, Lundgren has given his sons rudimentary instruction in securities trading, and is now engaged in passing all his own trades through the two of them, irrespective of the fact that neither son has a securities license, of any sort, either in the United States, or the Republic of Panama, which triggers another criminal offense.
The Panamanian shell companies are not licensed to sell securities by the country's regulatory authorities. It is assumed that the sons, like their father before them, use the facilities of third parties, in the Continental United States, to effectuate trades.
Inasmuch as trading in securities without a valid license, is a Federal felony, James Lundgren and ZacGary Lundgren, now join their father in the crime of acting as an unlicensed broker-dealer. The profits, which are criminal, when transferred through the global banking system, further implicates all three in money laundering, and conspiracy to commit money laundering, and securities fraud.
The names of the new Panamanian shell companies engaged in illegal securities trading are not yet known, but we are searching Panama's corporate records for that information. We shall endeavor to locate those names, and will publish them as soon as we have them in hand. We trust that JP Morgan, where Mr. Lundgren had most of his business and personal accounts, which he refused to show to FINRA, is reading this article, as well as those American regulatory and law enforcement agencies who have an interest in these three unlicensed individuals,
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