Many investors are unaware of the legal recourse available to them after they lose 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. The law firm of Oakes & Fosher is very interested in hearing from investors who believe that this may be them.

Oakes & Fosher is currently investigating the possible misconduct of former securities broker Gerald Cocuzzo. According to his publicly available FINRA BrokerCheck report, Gerald Cocuzzo has been the subject of multiple customer disputes as well as a sanction from the SEC.

Gerald Cocuzzo was a Florida based securities broker. He worked in the securities industry for sixteen years. During his career, he was registered with nine different securities firms.

His Registrations

  • Seaboard Securities (2000-2002)
  • Gunallen Financial (2002-2003)
  • Continental Broker-Dealer Corp. (2003-2004)
  • LH Ross & Company (2004)
  • J.P. Turner & Company (2004-2008)
  • America’s Choice Equities (2008)
  • Gunnallen Financial (2008-2009)
  • IAA Financial (2009-2015)
  • Newbridge Securities Corporation (2014-2016)

Allegations

  • In September 2005, a customer alleged that Gerald Cocuzzo failed to follow instructions.
  • In July 2014, a customer alleged unsuitability. This case was settled for $18,000 in damages.
  • In July 2016, customers alleged that Gerald Cocuzzo over-concentrated their account, breached his fiduciary duty, breached contract, engaged in common law fraud, and violated the California Securities Act. This case was settled for $27,500 in damages.
  • On October 12th 2016, Gerald Cocuzzo pled guilty to one count of securities fraud. This was due to allegations that he engaged in a fraudulent investment scheme that included accepting cash bribes to solicit customers to invest in a fraudulent offering known as ForceField Energy, Inc. He was also barred by the United States Securities and Exchange Commission from acting as a securities broker in any fashion.
  • In December 2016, a customer filed a dispute regarding Gerald Cocuzzo’s alleged recommendation for them to invest in the fraudulent Forcefield Energy Corp. This case was settled for $24,999 in damages.

What Does This Mean?

Fraud encompasses a wide range of misconduct that securities brokers like Gerald Cocuzzo engage in. Any time a securities broker deceives an investor, either through misrepresenting or omitting material information, they have engaged in fraudulent behavior. Even if Gerald Cocuzzo was not aware that he was soliciting his customers to invest in a fraudulent product, he was still engaging in fraud due to his failure to disclose that he had been receiving cash kickbacks in order to recommend it. Investors who believe they have experienced financial losses due to their securities broker’s fraudulent behavior may be entitled to damages.

Oakes & Fosher Can Help

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Gerald Cocuzzo, please contact Oakes & Fosher for a free and private consultation.