Michael Alejandro Castillero of New York New York a stockbroker formerly associated with Alexander Capital LP has been referenced in a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages supported by allegations that (1) fiduciary obligations were not complied with (2) the elderly customer had been exploited or otherwise taken advantage of by the stockbroker (3) contractual obligations were not complied with (4) the customer’s account had been administered in a negligent manner (5) misleading statements were made by the stockbroker pertaining to the risks and drawbacks of real estate securities transactions and (6) fraudulent actions were taken with the customer’s assets when Castillero had been employed by Alexander Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03581 (Dec. 4, 2019).
This is not the first time that Castillero has been referenced in a customer initiated investment related dispute concerning accusations of the stockbroker’s wrongdoing in the securities industry. Particularly, FINRA Public Disclosure reveals that Castillero is referenced in a customer initiated investment related arbitration claim which has been resolved for $25,000.00 in damages based upon accusations that real estate investment trusts and over the counter equities trades were effected without approval from the customer; the customer’s account was administered with poor care; and transactions were unsuitable given the customer’s investment profile when Castillero was associated with Alexander Capital. (FINRA) Arbitration No. 16-01702 (Feb. 1, 2018).
Another customer filed an investment related complaint involving Castillero’s conduct on May 1, 2018 in which the customer requested $52,900.00 in damages based upon allegations that when Castillero was associated with Alexander Capital, common or preferred stock trades were effected in the customer’s account by the stockbroker without the customer’s knowledge or consent. Castillero is additionally referenced in a customer initiated investment related arbitration claim where the customer sought $231,758.14 in damages founded on accusations that the customer’s account had been churned; transactions were unsuitable in view of the customer’s goals for investing or aversion to risk; and equities transactions were misrepresented when Castillero was employed by Alexander Capital. FINRA Arbitration No. 18-03984 (Nov. 28, 2018).
FINRA Public Disclosure indicates that Castillero has been barred from associating with any FINRA member in any capacity supported by findings that the stockbroker neglected to comply with FINRA Rules 2010 and 8210 by, inter alia: neglecting to provide recorded testimony to FINRA personnel while he was investigated for unauthorized transactions; attempting to settle a customer dispute outside the auspices of the securities broker dealer; and lying to FINRA regarding his activities when registered with Alexander Capital. Letter of Acceptance Waiver and Consent No. 2018058649501 (Feb. 6, 2019).
Castillero’s registration with Alexander Capital has been terminated as of June 16, 2017. He was associated with Windsor Street Capital LP between June 19, 2017 and October 17, 2017.
