A former broker who was barred by Finra has been charged by the SEC with operating an offering fraud that swindled investors of at least  $1.6 million and spending the money on vacations, gambling and child support.

Christopher Fulco of Staten Island, N.Y., used three aliases—Christian Anthony, Johnathan Stewart and Michael Barron—and created fictitious documents to induce at least 10 investors, many of them elderly retirees, to transfer money to JM Capital, according to a SEC civil complaint filed with U.S. District Court in the Eastern District of New York. The fraud took place from April 16 through April 19, the complaint said.

The complaint said Fulco, 43, cold-called investors and solicited investments for a private electric vehicle company, a medical device company, a fund he purported to manage and a promissory note, through JM Capital. He led the investors to believe some of the companies were about to substantially increase in value following initial public offerings, the SEC said. The investors believed their funds would be used to purchase securities, but Fulco never invested the money in the manner represented to investors, the SEC said.

Instead, the complaint said, Fulco used the investor proceeds to fund his lifestyle, spending significant portions for gambling, vacations, mortgage payments, child support, luxury goods, cash withdrawals and restaurant meals. Additionally, Fulco transferred at least $94,130 of investor money to Jamie Milione, an ex-girlfriend whom the SEC named as a relief defendant, the complaint said.

In 2014, Fulco was barred by the Financial Industry Regulatory Authority for allegedly participating in private securities transactions without first providing written notice to his firm describing his proposed role in the transaction and stating whether he had received or may receive selling compensation in connection with the transaction. The complaint alleged that Fulco lied repeatedly on the firm’s compliance questionnaire.

The SEC, which filed civil charges against both Fulco and his firm, is seeking permanent injunctions, disgorgement, prejudgment interest, and civil money penalties against Fulco and JM Capital, and disgorgement and prejudgment interest from the relief defendant, Milione.