Jonathan Edward Rago of Melville New York a stockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim which was resolved for $74,787.96 in damages supported by allegations that (1) investment recommendations made to the customer were not suitable and (2) unauthorized trades were executed in the customer’s account when Rago was associated with Aegis Capital Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00408 (May 30, 2019).
FINRA Public Disclosure additionally confirms that Rago has been sanctioned by a securities regulator for misconduct. Specifically, Rago was suspended for one year from engaging in securities business in the state of Arkansas according to an Arkansas Securities Department Order founded on accusations that while Rago was employed by Craig Scott Capital LLC, Rago made misleading statements concerning the performance of investments that he solicited; and Rago neglected to conduct a reasonable suitability analysis prior to making investment recommendations. Case No. SD-13-0137 (Mar. 16, 2016).
Rago’s registration with Aegis Capital Corp. terminated on April 18, 2016.
