Articles Tagged with joseph gunnar

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Michael Guilfoyle, a registered representative with Legend Securities, allegedly violated securities laws. Between October 2014 through April 2016, Guilfoyle allegedly engaged in unsuitable, excessive trading. Specifically, in the accounts of two customers, one of whom was elderly. This is against securities laws, and internal firm rules. For this misconduct, he was fined $10,000 and suspended for 10 months.

According to his online, FINRA BrokerCheck report, Mr. Guilfoyle was previously registered with JP Turner & Co., Gunnallen Financial, Mercer Capital, Brookstone Securities, Newbridge Securities Corp, Global Arena Capital Corp, America’s Choice Equities, Joseph Gunnar, Legend Securities in New York, New York from August 2013 until May 2016, IFS Securities and Four Points Capital Partners in New York from September 2016 until March 2017. He has two customer disputes against him, and one criminal pending charge. He is not currently registered as a broker.

Stoltmann Law Offices is investigating John Cangialosi, a former registered broker with Legend Securities. Cangialosi was accused of unsuitable investments, fraudulent and negligent acts, breach of contractual requirements, churning and negligent misrepresentation, among other claims. He also allegedly failed to timely disclose judgments or liens against him. For this, he was fined $5,000 by the Financial Industry Regulatory Authority (FINRA) and suspended for three months. In January 2016, the state of Michigan denied Cangialosi’s application to engage in securities business in the state on the grounds that he engaged in dishonest and unethical practices within the last 10 years supporting the denial of his registration application.

According to his online FINRA BrokerCheck report, Cangialosi was registered with Joseph Stevens & Company in Brooklyn, New York from December 2001 until June 2004, Gunnallen Financial in Staten Island, New York from June 2004 until August 2006, JP Turner & Company in Staten Island from August 2006 until February 2009, Broostone Securities in Staten Island from October 2009 until June 2012, Joseph Gunnar & Co. in Staten Island from June 2012 until August 2013 and Legend Securities in New York, New York from August 2013 until November 2016. He is currently registered with Worden Capital Management in New York and has been since November 2016. He has five customer disputes against him and one judgment/lien.

Please call us today if you invested money with John Cangialosi. We may be able to bring a claim against his former firm, Legend Securities, for not reasonably supervising him while he was registered there. We take cases on a contingency fee basis only so please call today. The call is free with no obligation. Attorneys are standing by. 312-332-4200.

Robert Estevez, a registered investment adviser with Joseph Gunnar in New York, New York, recently entered into a Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA). The AWC alleged that Estevez recommended unsuitable steepener transactions in customer accounts. From May 2011 through September 2012, Estevez recommended the products, which are complex, structured products with returns linked to the spread between longer and shorter-term interest rates. They offer periodic coupons that are fixed for a pre-specified period. These products tend to be very illiquid, and Estevez recommended 25 short-term steepener transactions in the accounts of 19 customers, which resulted in $24,000 of customer losses. For this, he was fined $20,000 and suspended from the industry for two months.

Estevez was registered with Prime Charter Ltd in New York, New York from December 1998 until June 2001, Eastbrook Capital Group in New York, New York from June 2001 until December 2008 and Investors Capital Corp in Greenwich, Connecticut from December 2008 until September 2016. He is currently registered with Joseph Gunnar in New York and has been since September 2016. He has five customer disputes against him, one of which is currently pending. Please call us today for a free consultation about recovering your investment losses with Robert Estevez and Joseph Gunnar. We take cases on a contingency fee basis only.

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