Elaine Marie Zito of Scottsdale Arizona a stockbroker formerly registered with Questar Capital Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $87,397.47 in damages founded on accusations of the customer being placed into investments including fixed and variable annuities which were not appropriate for the customer during the time that Zito was employed by Questar Capital Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01938 (July 18, 2019).
FINRA Public Disclosure reveals that Zito is referenced in four customer initiated investment related disputes containing allegations of his violative conduct during the period in which he was associated with securities broker dealers including MetLife and Woodbury Financial Services. In fact, a customer filed an investment related complaint in regard to Zito’s activities where the customer sought $23,741.75 in damages based upon accusations of false or misleading statements being made concerning the penalties for accessing funds from the customer’s account.
On April 20, 2017, another customer filed an investment related complaint involving Zito’s conduct in which the customer requested $35,000.00 in damages supported by allegations that when Zito was associated with Woodbury Financial Services, false or misleading statements had been made concerning the guarantees on variable annuities applicable over a ten year period. Zito is additionally the subject of a customer initiated investment related dispute filed on April 24, 2017 where the customer sought damages estimated to exceed $5,000.00 founded on accusations of Zito’s misrepresentations concerning products sold to the customer when Zito was employed by Woodbury Financial Services Inc.
FINRA Public Disclosure confirms that Zito has been discharged by Questar Financial Corporation as of November 2, 2016 based upon allegations that he exercised discretionary authority in customer accounts in violation of the securities broker dealer’s procedures and policies, making distributions from customer’s accounts without written authorization. Since November 28, 2016, Zito has been employed by Newbridge Securities Corporation.
