The law firm of Oakes & Fosher is currently investigating the possible negligence and/or misconduct of securities broker Matthew Crafa. According to his publicly available FINRA BrokerCheck report, Matthew Crafa is currently the subject of a pending customer complaint.

Matthew Crafa is currently operating as a New York based securities broker. He has worked in the securities industry for twenty years. During his career, he has been registered with seven different securities firms.

His Registrations

  • Royce Investment Group (1998-1999)
  • Dean Witter Reynolds (1999-2001)
  • Prudential Securities Incorporated (2001-2002)
  • Quick & Reilly (2002-2004)
  • Ladenburg, Thalmann & Co. (2004-2005)
  • Oppenheimer & Co. (2005-2007)
  • Royal Alliance Associates (2007-Present)

The Allegations

In April 2019, a customer alleged that Matthew Crafa breached contract, breached his fiduciary duty, and handled their account negligently. This case is currently pending, and the customer is seeking $1 million in damages.

In January 2020, a customer alleged that Crafa made material misrepresentations regarding a private investment fund. This case is currently pending, and the customer is seeking $5,000 in damages.

In February 2020, a customer alleged that Crafa made material misrepresentations regarding investments and negligently breached his fiduciary duty. This case is currently pending, and the customer is seeking $5,000 in damages.

What Does This Mean?

Securities brokers, like Matthew Crafa, have a legal obligation to always act in the best interests of their customers. Part of this means conducting the necessary due diligence to handle their customer’s accounts to this best of their ability. When brokers let this responsibility go awry, their customers can suffer financially for it. Negligence turns out to be one of the most common things that securities brokers are accuse of.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker negligence and/or misconduct. Oakes & Fosher dedicates its entire legal practice to helping investors who have lost money in this fashion. If you, or someone you know, have lost money investing with Matthew Crafa, please contact Oakes & Fosher for a free and private consultation.