Paul Anthony Falcon, of Miami, Florida, a stockbroker currently registered with Aegis Capital Corp., is the subject of a customer initiated investment related arbitration, where the customer has sought $190,000.00 in damages supported by accusations that between August 1, 2013 and February 1, 2016, excessive and unauthorized trades were executed in the customer’s investment account and the customer was recommended stock and corporate debt investments that were not suitable. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00764 (Mar. 24, 2017).
FINRA Public Disclosure confirms that Falcon is the subject of four more customer initiated investment related disputes concerning allegations of Falcon’s wrongdoing during the time he was associated with First Union Securities, Inc. and Citicorp Investment Services. Particularly, on September 3, 1999, a customer initiated investment related written complaint involving Falcon’s conduct was settled for $15,000.00 in damages based upon accusations that Falcon failed to apprise the customer about a ten-year maturity on a federal home loan mortgage debenture that Falcon recommended to the customer.
Subsequently, on January 11, 2001, a customer initiated investment related written complaint relating to Falcon’s activities was resolved for $4,667.80 in damages supported by accusations that Falcon misrepresented to the customer that buying a federal home loan bond at par value would enable the bond to be sold at par value in the future. Further, on April 25, 2016, a customer complaint was brought in which the customer sought $190,672.12 in damages founded on allegations that unsuitable investment recommendations were made to the customer, causing the customer’s investment portfolio to poorly perform.
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