The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Christopher Marnelego. According to his publicly available FINRA BrokerCheck report, Christopher Marnelego has been the subject of multiple customer disputes.
Christopher Marnelego was New York based securities broker. He worked in the securities industry for fourteen years. During his career, he was registered with twelve different securities firms. He is no longer working as a registered securities broker in any fashion.
- Roan-Meyers Associates (2002)
- Joseph Stevens & Company (2002-2004)
- Gunnallen Financial (2004-2006)
- VFinance Investments (2005-2006)
- Samco Financial Services (2006)
- J.P. Turner & Company (2006-2007)
- Mercer Capital (2007-2010)
- Buckman, Buckman & Reid (2010-2012)
- Meyers Associates (2012-2013)
- Merriman Capital (2013-2015)
- First Standard Financial Company (2015-2016)
- In September 2014, a customer alleged that Christopher Marnelego misrepresented the risk of an investment and overall made an unsuitable investment recommendation. This case was settled for $37,500 in damages.
- In June 2017, a customer alleged that Christopher Marnelego made unsuitable investment recommendations throughout 2011 and 2012. This case was settled for $85,000 in damages.
What Does This Mean?
Securities brokers have a legal and ethical obligation to always act in their customers’ best financial interests. This obligation is the investment broker’s duty as a fiduciary. This duty compels brokers to choose investments for their customers that are actually suitable for them based on factors that include investment objectives, financial situation, risk tolerance, and liquidity needs. Brokers who invest their customers contrary to these factors either do so in an attempt to defraud the investor, or are just incredibly negligent. Either of which disqualify the broker from being able to perform their duties to the necessary standards required for their position.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Christopher Marnelego, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.