Robert Francis Stefanelli, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on December 12, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Stefanelli utilized high pressure sales tactics, and effected equity and options margin trades in the customer’s account on an excessive basis.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stefanelli has been identified in two additional customer initiated investment related disputes containing allegations of Stefanelli’s misconduct while employed with J.P. Turner & Company, LLC. Specifically, on April 27, 1998, a customer initiated investment related complaint involving Stefanelli’s conduct was settled for $3,145.00 in damages based upon allegations that Stefanelli effected unauthorized stock trades in the customer’s account.
Subsequently, on September 10, 2009, a customer initiated investment related arbitration claim regarding Stefanelli’s activities was resolved for $10,000.00 in damages based upon allegations that Stefanelli negligently managed the customer’s investment portfolio and effected unsuitable over-the-counter equity transactions in the customer’s account.
FINRA Public Disclosure further reveals that the Arkansas Securities Department issued an Order containing cease and desist and injunction sanctions against Stefanelli based upon findings that Stefanelli made misrepresentations regarding investments and effected sales of securities which were not registered. Case No. 98-45-S (Feb. 24, 1999).
Stefanelli’s registration with Legend Securities, Inc. was terminated on May 15, 2012. Since May 4, 2012, he has been registered with Alexander Capital, L.P.
Guiliano Law Group
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To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
