Francesco Puccio Allegedly Misappropriates Funds

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Francesco Puccio. According to his publicly available FINRA BrokerCheck report, Francesco Puccio has been the subject of multiple customer disputes.

Francesco Puccio was a New York based securities broker. He worked in the securities industry for sixteen years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• The Equitable Life Assurance (1999-2000)


• AXA Advisors (1999-2009, 2011-2014)


• CCO Investment Services Corp. (2009-2011)


• Cambridge Investment Research (2014-2015)

• In July 2015, Francesco Puccio was discharged from his position at Cambridge Investment Research due to criminal charges he received. He was charged with second degree grand larceny and fourth degree conspiracy. During a FINRA investigation into the matter, Francesco Puccio allegedly failed to comply with FINRA's request for information and was in turn barred from acting as a securities broker in any fashion.


• In September 2015, a customer requested that Francesco Puccio be investigated regarding alleged unauthorized loans taken against two variable life insurance policies purchased in 2012.


• In November 2016, a customer alleged that Francesco Puccio made unsuitable recommendations to purchase two life insurance policies and two variable annuities in 2012 and 2015. This case went to arbitration where the customer was awarded almost $3.2 million in damages. He received an identical complaint in December of that year. This case was settled for $115,000 in damages.


• In April 2018, a customer alleged that Francesco Puccio sold her an unsuitable life insurance policy, unsuitable annuities, and misappropriated funds from her. This case was settled for $130,000 in damages.


• In June 2019, a customer alleged that Francesco Puccio recommended a highly unsuitable life insurance policy switch. This case is currently pending.

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 Francesco Puccio, 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.