Albert Lewis DeGaetano of Independence Ohio a stockbroker formerly registered with Cabot Lodge Securities LLC has been discharged on November 15, 2019 based upon allegations of him violating the firm’s directives as it related to private securities transactions. Cabot Lodge Securities also alleged that DeGaetano’s correspondence with the public violated firm policy.
This is not the first time that DeGaetano has been terminated from a securities broker dealer founded on accusations of improper activities. He was registered with Edward Jones between September 28, 2015 and January 25, 2019. He was discharged by Edward Jones supported by allegations of him effecting transactions without corresponding with authorized persons. The securities broker dealer also indicated that DeGaetano engaged in activities that ran contrary to the purpose of an account.
FINRA Public Disclosure also reveals that on April 30, 2019, a customer initiated investment related complaint involving DeGaetano’s activities was settled for $120,000.00 in damages based upon accusations of unauthorized transactions by DeGaetano at Edward Jones. The complaint alleges that unauthorized purchases and sales enabled DeGaetano to generate extra commissions. According to the complaint, DeGaetano also neglected to liquidate investments and transfer proceeds to the customer.