Felippe Teixeira Alves, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $5,750,000.00 in damages based upon allegations that Alves effected unauthorized trades, churned the customer’s investment account, made investment based misrepresentations, negligently handled the customer’s investment portfolio, and breached his contractual and fiduciary duties owed to the customer in reference to over-the-counter equity transactions Alves effected in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Alves has been identified in four additional customer initiated investment related disputes containing allegations of his misconduct while associated with Joseph Stephens & Company, Inc., National Securities Corporation, and John Thomas Financial. Particularly, on August 29, 2005, a customer initiated investment related written complaint involving Alves’ conduct was settled for $6,255.00 in damages based upon allegations that he charged the customer excessive commissions and effected unauthorized stock transactions in the customer’s account.
Subsequently, on September 23, 2005, a customer filed an investment related written complaint regarding Alves’ activities, where the customer requested $200,000.00 in damages based upon allegations that Alves charged the customer excessive commissions, and churned the customer’s investment account in reference to over-the-counter equity transactions.
On February 20, 2009, another customer initiated investment related arbitration claim involving Alves’ conduct was settled for $90,000.00 in damages based upon allegations that Alves effected unsuitable transactions in the customer’s account and made misrepresentations concerning the customer’s equity investments. Moreover, on March 20, 2010, a customer initiated investment related complaint regarding Alves’ activities was resolved for $25,000.00 in damages based upon allegations that excessive commissions had been charged by Alves in the customer’s investment account.
Since December 17, 2003, Alves has been associated with five different broker dealers, three of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.#cockroach
Guiliano Law Group
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