SEC Bars Broker For Churning Client Accounts The commission claimed Emil Botvinnik urged clients to make short-term investments that made him millions in commissions and other fees.
The Securities and Exchange Commission has barred a broker from the industry for his role in a scheme to defraud retail investors of millions, the agency claims.
Emil Botvinnik was originally charged in September 2018 for churning clients’ funds in order to boost profits at the expense of clients. Coral Gables, Fla.-based Botvinnik was a registered representative at the New York-based firm Meyers Associates, which was later renamed Windsor Street Capital, and was charged in tandem with Jovannie Aquino, another rep at the firm accused of similar actions.