John Michael Lopinto of New York New York is a stockbroker currently registered with Worden Capital Management LLC who is the subject of a customer initiated investment related written complaint on December 18, 2017 where the customer sought $8,878.00 in damages founded on allegations that the customer’s equity investment account was churned.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Lopinto has been referenced in two additional customer initiated investment related disputes that pertain to accusations of Lopinto’s misconduct during the time he was registered with J.P. Turner & Company LLC and National Securities Corp. Specifically, a customer initiated investment related arbitration claim pertaining to Lopinto’s conduct was settled for $50,000.00 in damages based upon allegations that Lopinto negligently transacted in the customer’s account, breached his contractual obligations, breached his fiduciary duties and defrauded the customer with respect to private placement investments. FINRA Arbitration No. 12-02599 (Feb. 10, 2014).
Thereafter, a customer initiated investment related arbitration claim involving Lopinto’s activities was resolved for $240,000.00 in damages supported by accusations that transactions were not suitable for the customer; the customer’s account was churned; the customer had been defrauded; contractual and fiduciary obligations to the customer had been breached; the customer was charged mark-ups and mark-downs that were excessive; and the customer’s investment portfolio had been negligently handled with respect to the customer’s investments in private placements and over-the-counter equities. FINRA Arbitration No. 12-02703 (Sept. 9, 2013).
Since September 6, 2002, Lopinto has been associated with six different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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