The Securities and Exchange Commission announced this week that it has barred a former Massachusetts man from the securities industry based on charges brought against him by a state attorney.

Jeffrey E. Gallagher, now a resident of Bradenton Beach, Florida, pleaded guilty late last year to one count of wire fraud, three counts of engaging in monetary transactions in property derived from specified unlawful activity and two counts of tax evasion. In February of this year, Gallagher was also sentenced to three years of imprisonment, followed by three years of supervised release. He was also ordered to pay $616,535 in restitution to his victims and $69,377 in restitution to the IRS.

The SEC said in its statement that Gallagher had acted as an unregistered broker-dealer from 2008 to 2012. Those charges stemmed from an investment scam that Gallagher ran during that time, in which he lost a total of $617,475 of 23 investors’ money and also used $249,703 of investors’ money for his own personal benefit – and didn’t report it to the IRS.

The agency also said that in 1989 Gallagher pled guilty to one count of mail fraud and three counts of interstate transportation of stolen property based on his illegal and unauthorized options trading while employed as a stockbroker at PaineWebber Inc. He was sentenced to 15 months in prison in connection with that case.

The SEC announced yesterday that it was barring Gallagher from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent or nationally recognized statistical rating organization, and from participating in the offer or trading of any penny stocks.