NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Scott Douglas Pionk (Principal)
AWC/2009018512901

Pionk solicited $1.7 million from investors, including firm customers, and deposited the funds into his private company’s bank accounts over which he had sole control, representing to the customers that he would use the money to make legitimate investments on their behalf. Pionk made approximately $500,000 in interest payments to earlier investors using funds he received from later investors and converted substantially all of the remaining funds to his personal benefit by making checks payable to him or withdrawing cash from ATMs. Pionk failed to respond to FINRA requests for documents and to appear for an on-therecord interview.

Scott Douglas Pionk (Principal): Barred

Tags: Ponzi