Michael Scott Arteca of Matawan New Jersey a stockbroker formerly employed by Ameritas Investment Corp is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages founded on allegations that real estate investment trusts were misrepresented to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01328 (May 25, 2018).
FINRA Public Disclosure reveals that Arteca has been identified in four additional customer initiated investment related disputes containing accusations of Arteca’s improper conduct or sales practice violations while employed with New England Securities and Ameritas Investment Corp. Specifically, on June 23, 2009, a customer filed an investment related complaint concerning Arteca’s conduct where the customer requested unspecified damages based upon allegations that Arteca failed to advise the customer of the risks pertaining to a variable life insurance policy at the time that the policy was purchased.
On January 2, 2013, another customer filed an investment related complaint regarding Arteca’s activities in which the customer sought rescission and refunding of the premiums paid for a variable life insurance policy supported by accusations that Arteca made misrepresentations to the customer concerning the terms and conditions of the policy. Further, on February 9, 2017, a customer filed an investment related complaint involving Arteca’s conduct where the customer sought $95,070.00 in damages founded on allegations that without the customer’s consent, the customer’s variable annuity had been liquidated, resulting in the customer incurring unwarranted tax liabilities and surrender penalties.
On April 23, 2018, a customer initiated investment related complaint concerning Arteca’s activities was settled for $64,227.67 in damages based upon accusations of misrepresentation pertaining to variable annuity and life insurance products.
Arteca has been registered with Pruco Securities LLC since September 5, 2017.
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