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

John Prinzivalli is a New York based securities broker. He has worked in the securities industry for seventeen years. During his career, he has been registered with eight different securities firms.

His Registrations

  • Global Capital Securities Corporation (2001)
  • Seaboard Securities (2001-2002)
  • Milestone Financial Services (2002)
  • J.P. Turner & Company (2002-2005, 2007-2009)
  • Westrock Advisors (2005-2007)
  • First Midwest Securities (2009-2011)
  • Salomon Whitney (2011-2012)
  • Cape Securities (2012-Present)

The Allegations

  • In November 2010, a customer alleged that John Prinzivalli engaged in fraud, churned their account, misrepresented material facts, recommended unsuitable securities, and breached his fiduciary duty. This case was settled for $40,000.
  • In October 2014, a customer alleged that John Prinzivalli practiced high pressure sales tactics, churned his account, and recommended unsuitable trades. This case was settled for $30,000.

Churning

Securities brokers receive a percentage of an investor’s principal investment whenever they execute a trade on their behalf. Some securities brokers will trade their customer’s account excessively with the express purpose of generating more commissions for themself. This is a deceptive trading practice known as churning. When a broker trades an investor’s account excessively, it often results in detrimental fees and trading losses to the investor. Despite this, many brokers still engage in this fraudulent practice due to how much it increases their commissions.

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 John Prinzivalli, 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.