Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Securities Arbitration Claim Filed Against Cetera For Unsuitable REIT Recommendations

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John Edward Massa of Staten Island, New York, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought compensatory damages based upon accusations of Massa’s unsuitable recommendations of real estate investment trusts (REITs) when he was associated with Cetera Investment Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01690 (July 7, 2021).

Massa has been identified in six more customer initiated investment related disputes concerning allegations of his activities while he was registered with securities broker dealers, including Essex Securities, Capital One Financial Advisors, and Cetera Investment Services. FINRA Public Disclosure shows that a customer initiated investment related complaint regarding Massa’s conduct was settled for $11,703.12 in damages founded on accusations of the customer not being advised by Massa concerning the risk of losing money invested in Oppenheimer Rochester NY Tax-Free Bond Fund while Massa was registered with Essex Securities.

Massa is the subject of a customer initiated investment related written complaint where the customer requested $41,636.76 in damages supported by allegations of mutual funds sold from the customer’s account without the customer’s knowledge or consent during the time that Massa was employed by Capital One Financial Advisors.

On October 17, 2018, another investor filed a civil action involving Massa’s conduct in which the investor sought $7,610.96 in damages based upon accusations of misrepresentation relating to Massa’s real estate security sales when he was associated with Cetera Investment Services LLC. Civil Action No. MID-L-1812-18.

Massa is also referenced in a customer initiated investment related written complaint on July 23, 2019, where the customer requested $75,000.00 in damages founded on allegations of the customer’s funds being stolen when Massa was associated with Cetera Investment Services. According to the complaint, the customer’s assets were removed from their accounts without their permission. The complaint alleges fraud.

Massa is identified in a customer initiated investment related written complaint on October 11, 2019, in which the customer sought $5,000.00 in damages supported by accusations of the customer’s inability to access funds invested in a real estate security because of Massa.

On November 25, 2019, another customer initiated investment related FINRA securities arbitration claim concerning Massa’s activities was resolved for $20,000.00 in damages based upon allegations of a violation of Securities Exchange Act of 1934 and Securities and Exchange Commission (SEC) Rule 10b-5 as it relates to Massa’s REIT sales while he was registered with Cetera Investment Services. FINRA Arbitration No. 19-02207. The claim also contains accusations of negligence, breach of contract, and breach of fiduciary duty by Massa.

Massa was employed by Cetera Investment Services LLC between September 8, 2010, and June 2, 2017, and again between December 6, 2017, and April 15, 2020.