A former broker, who recently pleaded guilty in federal court to charges of defrauding individuals with phony investment opportunities, has been permanently barred from the securities industry by FINRA.

Michael J. DiMare, a former Ponte Vedra Beach, Fla., broker most recently with ING Financial Partners, has been in legal hot water for several offenses including misappropriating approximately $2 million client funds, FINRA stated. DiMare pleaded guilty in federal court in the Middle District of Florida last February to criminal charges. DiMare’s misdeeds came to light when federal authorities began receiving complaints from investors.

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