The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker David Lomedico. According to his publicly available FINRA BrokerCheck report, David Lomedico has been the subject of a customer dispute and a FINRA sanction.

David Lomedico was a New York based securities broker. He worked in the securities industry for twenty-nine 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.

His Registrations

  • Pioneer Portfolio Corp. (1986-1988)
  • South Richmond Securities (1988-1994)
  • Rickel & Associates (1994-1995)
  • Kensington Wells Incorporated (1995-1996)
  • Royce Investment Group (1996-1999)
  • Investec Ernst & Company (1999-2000)
  • Milestone Financial Services (2000-2002)
  • American Capital Partners (2002-2005)
  • J.P. Turner & Company (2005-2006)
  • Advanced Planning Securities (2006-2007)
  • Rockwell Global Capital (2007-2013)
  • Spartan Capital Securities (2013-2016)

The Allegations

  • In October 2004, a customer alleged that David Lomedico recommended unsuitable trades and executed unauthorized trades. This case was settled for $85,000 in damages.
  • In August 2017, David Lomedico was officially sanctioned by FINRA. The findings in this matter state that he allegedly recommended unsuitable transactions in two customers’ accounts. Due to these alleged actions, he was fined $5,000 and suspended for a period of four months.

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 David Lomedico, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.