Advisor Alert: Our Attorneys Are Investigating Martin Randal Stancik For Investment Fraud
Did You Lose Money Because of Randy Stancik of Cetera Advisor Networks (previously with Voya Financial Advisors)?
Filed: October 20, 2023
Randy Stancik has been the subject of one (1) regulatory event, one (1) criminal event, and three (3) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Randy Stancik.
Who Is Martin Randal Stancik?
- Advisor Name: Martin Randal Stancik
- Aliases: Randy Stancik
- CRD: 1319477
- Location: Parma Heights, Ohio
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Voya Financial Advisors, Inc., AXA Advisors, LLC, and Mony Securities Corporation
- Number of Known Customer Complaints: 3
- Number of Known Regulatory Events: 1
- Number of Known Criminal Events: 1
- Can Randy Stancik Be Sued: Yes, in Private Arbitration
- Can Randy Stancik’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $150,000
- Highest Settlement: $18,426.97
If you have suffered investment losses by Randy Stancik, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Randy Stancik For Broker Misconduct
As of this publication date, Randy Stancik has been the subject of 1 regulatory event, 1 criminal event, and 3 customer disputes. Let’s review them below.
In April 2019, the United States Securities and Exchange Commission filed a legal action against Randy Stancik. The Commission found that on July 12, 2017, Stancik pled guilty to one count of mail fraud [18 U.S.C. § 1341] and one count of aggravated identity theft [18 U.S.C. § 1028A(a)(1)] in a criminal action titled U.S. v. Martin R. Stancik, 17-cr-225 (N.D. Oh.) in connection with (1) his misappropriation (otherwise called theft) of $544,398.76 from four broker-dealer customers between 2003 and 2015; and (2) in connection with the forgery of a check made payable to one of his clients. In November 2017, Stancik was sentenced to 65 months imprisonment, three years of supervised release, and ordered to pay $544,398.76 in restitution. The criminal information against Stancik alleged, among other things, that Stancik: (1) made false representations to his broker-dealer customers as to the use of their funds; (2) forged broker-dealer customer endorsements to falsely divert customer funds to entities under Stancik’s control; (3) created a false investment contract document for a broker-dealer customer; and (4) created false annual statements for an annuity and mailed those false statements to a broker-dealer customer’s home.
In November 2017, a complaint was filed against or in reference to Randy Stancik by a customer of Mony Securities Corporation alleging while Mr. Stancik was registered with MONY Securities Corp. he stole $150,000.00 of life insurance payment that was supposed to have been used to purchase a second Jackson National fixed annuity. The client added that while Mr. Stancik was registered with Voya Financial Advisors; he continued to cover his theft by creating fake statements for the annuity contract. Per the customer, he/she lost over $150,000 due to Mr. Stancik’s actions.
In June 2017, Randy Stancik was charged with and was found guilty of Mail Fraud and Aggravated Identity Theft.
In November 2006, a complaint was filed against or in reference to Randy Stancik by a customer of Mony Securities Corporation alleging that Mr. Stancik represented to the client that his 2000 variable life insurance policy would pay $300-$400 a month at age 62. There was no exact amount of damages specified.
In February 2004, a complaint was filed against or in reference to Randy Stancik by a customer of Mony Securities Corporation alleging that the client’s investments were too conservative and that Mr. Stancik exchanged products to maximize his commission from Mony while minimizing returns for the client. Per the customer, she lost over $25,000 due to, Mr. Stancik’s actions. On August 23, 2004, Mr. Stancik settled the claim for $18,426.97, and some or all of this amount may have been paid by Mr. Stancik’s employer and/or insurance carrier.
How To File A Claim Against Randy Stancik (previously with Voya Financial Advisors, Inc., AXA Advisors, LLC, and Mony Securities Corporation) To Get Your Money Back.
If you have questions about Randy Stancik, Voya Financial Advisors, Inc., AXA Advisors, LLC, Mony Securities Corporation, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.