Gaetano Magarelli, a stockbroker currently registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related arbitration claim on August 31, 2017, in which the customer requested $266,355.00 in damages based upon allegations that Magarelli placed unsuitable equity transactions in the customer’s account, causing the customer to sustain investment losses within her stock holdings.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Magarelli has been subject of five additional customer initiated investment related disputes containing allegations of Magarelli’s misconduct during the time he was associated with Global Capital Securities Corporation, Ameriprise Financial Services and Newbridge Securities Corporation.
Apparently, on December 6, 2001, a customer initiated investment related written complaint involving Magarelli’s conduct was settled for $34,500.00 in damages based upon allegations that Magarelli placed unauthorized over-the-counter equities purchases in the customer’s account. Then, on January 29, 2009, a customer initiated investment related arbitration claim regarding Magarelli’s activities was resolved for $3,861.04.00 in damages based upon allegations that he placed unauthorized transactions in the customer’s brokerage account.
Subsequently, a customer initiated investment related arbitration claim regarding Magarelli’s activities was resolved for $27,500.00 in damages based upon allegations that Magarelli placed unsuitable and unapproved penny stock, common and preferred stock, and over-the-counter equities transactions in the customer’s individual retirement accounts; the customer was apparently never contacted relating to the trades having been placed in her account. Arbitration No. 15-03482 (Mar. 18, 2016).
Moreover, a customer filed an investment related written complaint involving Magarelli’s conduct, in which the customer sought $84,000.00 in damages based upon allegations that Magarelli placed common and preferred transactions in the customer’s account that were not suitable for the customer.
Magarelli has been registered with Newbridge Securities Corporation since March 23, 2010.
Guiliano Law Group
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