The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Richard Minichino. According to his publicly available FINRA BrokerCheck report, Richard Minichino has been the subject of a customer dispute.

Richard Minichino was a New York based securities broker. He worked in the securities industry for seven years. During his career, he was registered with five different securities firms.

His Registrations

  • David Lerner Associates (2010-2011)
  • Chase Investment Services (2011-2012)
  • J.P. Morgan (2012-2014)
  • Wunderlich Securities (2014-2016)
  • Next Financial Group (2016-2018)

The Allegations

  • In February 2018, Richard Minichino was discharged from her position at Next Financial Group. This was due to allegations that he made unsuitable trades in a customer’s account.
  • In April 2018, a customer alleged that Richard Minichino advised them to rollover several annuity IRAs into other investments without advising them about the tax rule that allows only one rollover per tax year. This case was settled for $56,671 in damages.
  • Richard Minichino was indefinitely suspended by FINRA from acting as a securities broker in June 2018 due to an alleged failure to comply with a settlement agreement.

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 Richard Minichino, please contact Oakes & Fosher for a free and private consultation.