Aegis Capital Corp Named In Unauthorized Trading Customer Claim

Michael Christopher Venturino, of Uniondale, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on April 12, 2016, in which the customer requested $515,000.00 in damages based upon allegations that from June of 2014 to January of 2016, Venturino effected over-the-counter equity trades in the customer’s account on an excessive and unauthorized basis, and breached his fiduciary duties to the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Venturino has been named in two additional customer initiated investment related disputes containing allegations of Venturino’s misconduct while employed with Craig Scott Capital, LLC. Specifically, on March 5, 2014, a customer initiated investment related arbitration claim involving Venturino’s conduct was settled for $76,500.00 in damages based upon allegations that Venturino breached his contractual duties, negligently handled the customer’s investment portfolio, effected unauthorized and unsuitable trades, churned the customer’s investment account, and defrauded the customer regarding equity transactions.
Additionally, on June 17, 2014, a customer filed an investment related written complaint regarding Venturino’s activities, in which the customer requested $125,000.00 in damages based upon allegations that Venturino charged the customer excessive commissions or mark-ups, effected excessive equity trades, and churned the customer’s investment account.
Since December 17, 2010, Venturino has been associated with three different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.