Stoltmann Law Offices is investigating Philip Pizelo, a former broker with Pacific West. Pizelo is not currently licensed to act as a broker. Pizelo served as Chief Executive Officer of Pacific West and is accused of approving and supervising the sale of a private placement without adequately evaluating its risks. For this, the Financial Industry Regulatory Authority (FINRA) fined him $20,000 and suspended him from acting as principal. Private placements are securities that are sold that are not registered securities with a brokerage firm. Oftentimes, they are unsuitable for clients, and selling private placements is against securities rules and regulations. Pizelo was also accused of breaching fiduciary duty, misrepresenting material facts, committing common law fraud, and violating state and federal securities laws, among other allegations.
Pizelo was registered with Dain Bosworth Inc., Quest Capital Strategies, Inc., Metropolitan Investment Securities, Great Northern Financial Securities and Pacific West Securities in Renton, Washington from June 2002 until June 2012. He is not currently licensed or registered with any FINRA member firm. He has eight customer disputes against him, all of which are pending. If you invested money with Philip Pizelo, his former firm, Pacific West, may be liable for investment losses. Please call us at 312-332-4200 to speak with an attorney about your options. The call is free with no obligation. We take cases on a contingency fee basis.