James John Raia, or Ridgewood, New York, a stockbroker formerly registered with J.P. Turner & Company, has been named in a customer initiated investment related written complaint on May 25, 2017, wherein the customer sought $110,000.00 in damages based upon allegations that Raia, from 2013 to 2017, effected real estate security and variable annuity transactions that were not appropriate for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that Raia has been named in four more customer initiated investment related disputes pertaining to allegations of Raia’s faulty business practices while employed with Greenpoint Securities LLC and GunnAllen Financial. In particular, on July 12, 2005, a customer filed an investment related written complaint involving Raia’s conduct, in which the customer requested $18,000.00 in damages based upon allegations that he made misrepresentations concerning mutual fund products.
Subsequently, on August 7, 2013, a customer initiated investment related arbitration claim regarding Raia’s activities was resolved for $24,395.00 in damages based upon allegations that he made misrepresentations to the customer, effected unsuitable real estate securities transactions in the customer’s account, breached his contractual obligations, and negligently managed the customer’s investment portfolio.
Moreover, on April 17, 2014, a customer initiated investment related arbitration claim involving Raia’s conduct was settled for $24,500.00 in damages based upon allegations that he made misrepresentations to the customer and effected transactions in the customer’s account that were not suitable. Further, on April 26, 2016, a customer filed an investment related written complaint involving Raia’s conduct, where the customer sought $100,000.00 in damages based upon allegations against Raia of unsuitability in reference to a Behringer Harvard Real Estate Investment Trust transaction effected in the customer’s account.
Raia’s registration with J.P. Turner & Company, L.L.C. was terminated on September 29, 2015. He became associated with Summit Brokerage Services, Inc. on September 3, 2015. Since March 14, 1997, Raia has been associated with eight different broker dealers, five of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
Guiliano Law Group
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