Michael Alejandro Castillero of New York New York a stockbroker formerly registered with Alexander Capital LP is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $62,181.00 in damages founded on accusations that the customer’s account was churned and overconcentrated in stocks because of Castillero during the time that he was associated with Alexander Capital LP. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01366 (May 13, 2020). The claim alleges unsuitable trading of stocks by Castillero.
FINRA Public Disclosure states that Castillero has been identified in 12 additional customer initiated investment related disputes concerning allegations of his misconduct while employed by Alexander Capital. On November 11, 2016, a customer initiated investment related complaint regarding Castillero’s activities was resolved for $100,000.00 in damages supported by accusations of Castillero’s negligent misrepresentation and his breach of fiduciary duty in regard to over-the-counter equities trades at Alexander Capital. According to the complaint, unauthorized and unsuitable trades were executed in the customer’s account.
Castillero is also the subject of a customer initiated investment related written complaint which was settled for $25,000.00 on July 13, 2017 based on allegations of omissions and misstatements by Castillero which concerned the customer’s common and preferred stock trades and over-the-counter equities transactions at Alexander Capital. The complaint alleges that the customer’s damages were also caused by unsuitable investments.
On May 1, 2018, another customer filed an investment related complaint involving Castillero’s conduct in which the customer requested $52,900.00 in damages founded on accusations that Castillero made unauthorized stock trades in the customer’s investment account. Castillero is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $13,000.00 in damages based upon allegations that Castillero made misrepresentations to the customer regarding over-the-counter equities and had made unsuitable recommendations while at Alexander Capital. FINRA Arbitration No. 18-03984. Castillero churned the customer’s account according to the claim.
Castillero is the subject of a different customer initiated investment related FINRA securities arbitration claim where the customer sought $150,000.00 in damages supported by accusations of elder abuse, breach of fiduciary duty, and breach of contract relating to a real estate security transaction at Alexander Capital LP. FINRA Arbitration No. 19-03581 (Dec. 4, 2019). The claim alleges that misrepresentations were made by Castillero and that the customer was defrauded.
FINRA Public Disclosure states that Castillero has been barred from associating with any FINRA member in any capacity founded on findings that he refused to cooperate with the regulator when he was under investigation for unauthorized trading. Letter of Acceptance Waiver and Consent No. 2018058649501 (Feb. 6, 2019). According to the AWC, Castillero was supposed to testify for FINRA according to a December 10, 2018 request concerning FINRA’s investigation. Castillero’s lawyer indicated to FINRA on December 31, 2018 that Castillero would not make any apperance or testify. Castillero violated FINRA Rules 2010 and 8210.
Castillero was registered with Alexander Capital between February 6, 2014 and June 16, 2017. He has been associated with two different securities broker dealers which have been expelled by regulators for violation of federal securities laws or are otherwise defunct
