Each of the wire fraud counts carries a maximum potential penalty of 20 years in prison and $250,000 fine, or twice the gross gain or loss from the offense. The investment adviser fraud count carries a maximum potential penalty of five years in prison and a $10,000 fine, or twice the gross gain or loss from the offense.
As a result of his actions, a Summary Revocation Order has been initiated against Basralian, and his agent and investment adviser representative registrations have been revoked.
