Philip Orezio Fatta, of Holtsville, New York, a stockbroker formerly registered with Blackbook Capital, LLC, has been named in a customer initiated investment related arbitration claim on June 15, 2016, in which the customer requested $381,195.16 in damages based upon allegations that Fatta breached his fiduciary and contractual duties, churned the customer’s account, effected unsuitable transactions, and defrauded the customer in reference to options products.
Financial Industry Regulatorily Authority (FINRA) Public Disclosure reveals that Fatta has been identified in nine additional customer initiated investment related disputes containing allegations of Fatta’s misconduct while employed with Blackbook Capital LLC, Legend Securities, Inc., IAA Financial LLC, CBG Financial Group, Inc., Brookstone Securities, Inc., U.S. Securities & Futures Corp., First Hudson Financial Group Inc., and GunnAllen Financial, Inc., Sharpe Capital, Inc., and J.P. Turner & Company, L.L.C.
Specifically, on May 15, 2001, a customer initiated investment related arbitration claim involving Fatta’s conduct was settled for $125,000.00 in damages based upon allegations that Fatta effected unauthorized equity trades and churned the customer’s investment account. On June 9, 2003, a customer initiated investment related arbitration claim regarding Fatta’s activities was resolved for $150,000.00 in damages based upon allegations that Fatta converted monies belonging to the customer, churned the customer’s account, and placed stock trades in the customer’s account without authorization.
On November 3, 2008, a customer initiated investment related arbitration claim involving Fatta’s conduct was settled for $350,000.00 in damages based upon allegations that Fatta effected unsuitable transactions in the customer’s account, breached his fiduciary obligations, charged the customer with excessive commissions, placed trades in the customer’s account in an excessive manner and without authorization, and made misrepresentations to the customer concerning investments.
On September 25, 2015, a customer filed an investment related arbitration claim regarding Fatta’s activities in which the customer requested $32,985.31 in damages based upon allegations including misrepresentation, breach of contract, negligence, unauthorized trading, unsuitability, and churning in reference to equity transactions.
Fatta’s registration with Blackbook Capital, LLC, was terminated on June 20, 2016. Since October 15, 1996, Fatta has been associated with fifteen different broker dealers, eleven of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct, including Blackbook Capital, LLC. #cockroach
Fatta is currently registered with Spartan Capital Securities, LLC.
Guiliano Law Group
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