Connecticut regulator fines Derby man $20K
The Connecticut Department of Banking fined John Mark Downing $20,000, determining he failed to deliver on trading profits promised an investor who gave him access to a TD Ameritrade brokerage account, only for Downing to lose in excess of that amount.
Downing did not respond to Department of Banking notices to addresses in Derby and Shelton the department had on file.
Downing served a four-year prison sentence after a 2004 conviction of running a Ponzi-like investment scheme, at the time known as John Mark Eseppi, and in 2006 was found guilty in the state of Texas of making a false statement in connection with the sale of securities.
Alex.Soule@scni.com; 203-842-2545; @casoulman