The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Joseph Ambrosole. According to his publicly available FINRA BrokerCheck report, Joseph Ambrosole has been the subject of multiple customer disputes over the course of his career.
Joseph Ambrosole is a New York-based securities broker. He has worked in the securities industry for seven years. During his career, he has been registered with six different securities firms.
His Registrations
- Obsidian Financial Group (2011-2012)
- Laidlaw & Company (2012-2013)
- Global Arena Capital Corp. (2013-2015)
- Joseph Stone Capital (2015, 2017-Present)
- Meyers Associates (2015-2016)
- Alexander Capital (2017)
The Allegations
- In February 2017, Joseph Ambrosole was officially sanctioned by FINRA. The findings in this matter state that he executed five unauthorized trades in the account of a customer. Due to the alleged actions, he was fined $5,000 and suspended from acting as a securities broker in any fashion for a period of one month.
- In March 2018, a customer alleged that Joseph Ambrosole churned their account, recommended unsuitable investments, and over-concentrated their account. This case was settled for $54,900 in damages.
- In August 2018, a customer alleged that Joseph Ambrosole engaged in common law fraud, breached his fiduciary duty, managed their account negligently, and breached contract. This case was settled for $10,000 in damages.
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 Joseph Ambrosole, 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.
