The Financial Industry Regulatory Authority (FINRA) has dealt Renegades CEO Chris Roumayeh a 21-month ban from the brokerage industry for soliciting investments without disclosing his position within the organisation.
The suspension, also imposing a $15,000 (£12,309) fine on Roumayeh, was delivered on Wednesday for both soliciting and managing investments in the Detroit-based organisation.
The period of infringement is said to have taken place between June 2014 and June 2019 when Roumayeh operated as a general securities representative at American investing and wealth management company Merrill Lynch.