Phillip Carl Contino Jr., of Hauppauge, New York, a stockbroker currently registered with Joseph Stone Capital L.L.C., is the subject of a customer initiated investment related written complaint on April 28, 2015, in which the customer requested $51,000.00 in damages based upon allegations that he made misrepresentations and omissions to the customer, and effected transactions in the customer’s account that were neither authorized nor suitable in reference to options and over-the-counter equities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Contino has been identified in two more customer initiated investment related disputes containing allegations of Contino’s wrongdoing while employed with American Capital Partners. Specifically, on February 25, 2009, a customer initiated investment related arbitration claim involving Contino’s conduct was settled for $60,000.00 in damages based upon allegations that he negligently handled the customer’s investment account, misrepresented information to the customer, and effected unsuitable over-the-counter equities transactions in the customer’s investment account that resulted in an over-concentration of assets. The customer further alleged that Contino’s activities were fraudulent.
Subsequently, on April 3, 2015, a customer filed an investment related written complaint regarding Contino’s activities, wherein the customer requested $300,000.00 in damages based upon allegations that he effected equity transactions in the customer’s investment account that were not suitable for the customer.
Prior to Contino’s employment with Joseph Stone Capital L.L.C., he was associated with eight different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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