FINRA Permanently Bars Gary Eugene Donovan for Stock Manipulation

Donovan was also discharged from SagePoint Financial in Newark, OH

The Financial Industry Regulatory Authority (FINRA) has permanently barred broker Gary Eugene Donovan from acting as a broker or otherwise associating with firms that sell securities to the public. Up until early 2016, Donovan worked as a broker for a number of brokerage firms around the U.S., most recently SagePoint Financial, Inc. in Newark, OH from October 2005 to January 2016.

Donovan was discharged from SagePoint when it was determined by the firm that he had failed to follow their policies covering the interaction of brokers and stock promoters, as well as the sale of unlisted securities relating to Mix 1 Life, Inc. (OTC: MIXX).

Donovan was investigated by FINRA as a result of these allegations, and in May of 2016, he was permanently barred by the agency due to what was discovered. FINRA’s findings state that Donovan placed limit buy orders for an illiquid OTC security, which was related to the communications he had with a stock promoter. According to FINRA, he knew or should have known that the buy orders were being matched with identical sell orders. As a result, the OTC security was determined to have been manipulated.

Donovan agreed to the sanction and to the findings of FINRA, but he neither admitted nor denied them. To learn more about Gary Eugene Donovan, you can read his BrokerCheck report.

When you work with a broker, you’re trusting that they’ll make the right decisions for you and your money and everything will be above board. Unfortunately, some brokers violate that trust. If you worked with Gary Eugene Donovan, you could be eligible to recover lost money through FINRA securities arbitration.

The attorneys at Silver Law Group are leaders in the field of securities arbitration. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. Our services are provided on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. For more information, contact us for a complimentary consultation.