A Denmark resident who intermittently worked as a broker with Ajax Investment Advisors in Sebago for 25 years has been barred from investment work by the U.S. Securities and Exchange Commission.

The order, released Dec. 9, bars Paul A. Ligor Jr., 59, from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal adviser, transfer agent or national statistical rating organization.

The ruling follows action taken in March by the Maine Office of Securities, which issued a consent order barring Ligor from associating with any issuer, broker-dealer or investment adviser in Maine, from acting as an investment adviser or investment adviser representative in Maine when not licensed to do so, and from otherwise violating Maine securities laws, according to a release from the SEC. Ligor was also ordered to pay a civil fine of $1,000.

In the Maine case, which covers alleged activity from 2009 through early 2011, Ligor managed and executed trades in self-directed brokerage accounts on behalf of at least eight clients while not being appropriately licensed. Further, the order alleges that Ligor made false statements to Maine’s Office of Securities by saying he would not engage in investment activities until he received a license to do so.

Ligor accepted the ruling from the SEC without admitting to any wrongdoing. He can reapply for licensing if he meets a number of conditions.