The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Gary Guglielmo. According to his publicly available FINRA BrokerCheck report, Gary Guglielmo has been the subject of multiple customer disputes over the course of his career.

Gary Guglielmo is a Florida based securities broker. He has worked in the securities industry for twenty-three years. During his career, he has been registered with six different securities firms.

His Registrations

  • Prudential Securities Incorporated (1997-1999)
  • Dean Witter Reynolds (1998-2000)
  • DB Alex. Brown LLC (2000-2001)
  • Deutsche Bank Securities Inc. (2001-2002)
  • Citigroup Global Markets (2002-2009)
  • Morgan Stanley (2009-Present)

The Allegations

  • In February 2013, a customer alleged that Gary Guglielmo excessively traded their account without authorization. This case was settled for $600,000 in damages.
  • In March 2017, a customer alleged that Guglielmo misrepresented purchased Puerto Rico bonds.
  • In August 2018, a customer alleged that Guglielmo recommended unsuitable investments.

What Does This Mean?

Excessive Trading, or churning, is a deceptive trading practice instituted by securities brokers like Gary Guglielmo. It centers around the securities broker trading a customer’s account excessively even if it has no financial benefit to the investor. The reason they do it then is because it generates additional commissions for each trade they execute. Despite its fraudulent nature, many securities brokers continue to engage in this practice.

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 Gary Guglielmo, 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.