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

Victor Rigoni is an Illinois based securities broker. He has worked in the securities industry for nineteen years. During his career, he has been registered with four different securities firms.

His Registrations

  • Edward Jones (2000-2008)
  • Cambridge Investment Research (2008-2010)
  • Summit Brokerage Services (2010-2019)
  • Cetera Advisor Networks (2019-Present)

The Allegations

  • In September 2010, a customer alleged that Victor Rigoni executed unauthorized trades, made unsuitable investment recommendations, and charged them excessive commissions. This case was settled for $63,742 in damages.
  • In October 2018, a customer alleged that Victor Rigoni breached contract, committed fraud, made material misrepresentations, breached his fiduciary duty, and violated FINRA rules. This case was settled for $12,000 in damages.
  • In April 2019, a customer alleged that Victor Rigoni breached contract, committed fraud, made material misrepresentations, breached his fiduciary duty, and violated FINRA rules. This case was settled for approximately $14,000 in damages.
  • In May 2019, a customer alleged that Victor Rigoni breached his fiduciary duty, committed common law fraud, and handled their account negligently. This case is currently pending. The customer is seeking $100,000 in damages.
  • In December 2019, a customer alleged that Victor Rigoni breached contract and recommended unsuitable investments. This case is currently pending. The customer is seeking $99,000 in damages.

What Does This Mean?

A contract is a binding agreement between separate parties to protect both parties in case the other party defaults on what was agreed up on to. Contracts between brokers and investors are crucial to everything moving smoothly because it ensures that both parties will move forward as they agreed to. Investors can experience significant financial harm when brokers stray from what was agreed upon to in the established contract. This can include a variety of actions that include; failure to execute trades, executing trades without the investor’s authorization, or charging commissions higher than what the contract states. Brokers who breach contracts between investors work toward the erosion of the already fragile trust between investors and securities brokers.

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 Victor Rigoni, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.