Gerald J. Cocuzzo, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been named in a customer initiated investment related arbitration claim on July 5, 2016, based upon allegations that Cocuzzo breached his fiduciary and contractual duties to the customers, overconcentrated the customers’ assets, and committed fraud. Additionally, the customers alleged that Newbridge Securities Corporation negligently hired and supervised Cocuzzo’s activities.
FINRA Public Disclosure reveals that on May 5, 2016, another customer filed an investment related arbitration claim involving Cocuzzo’s conduct, in which the customer requested $50,000.00 in damages based upon allegations that Cocuzzo was responsible for the customer’s investments losses which were based upon a fraudulent offering.
On September 27, 2005, a customer initiated investment related arbitration claim involving Cocuzzo’s conduct was settled for $4,950.00 in damages based upon allegations that Cocuzzo failed to execute the customer’s stop loss order. On July 2, 2014, a customer initiated investment related arbitration action was settled for $100,000.00 in damages based upon allegations that Cocuzzo effected transactions in the customer’s account which were not suitable.
On May 2, 2016, The United States Attorneys’ Office for the Eastern District of New York indicted Cocuzzo, along with eight others, in which Cocuzzo was charged with conspiracy to committed wire fraud, conspiracy to commit securities fraud, securities fraud, and money laundering conspiracy. No. 16-cv-02193 (May 2, 2016). The indictment alleged that between December of 2009 and April of 2015, Cocuzzo participated in a scheme designed to defraud Forcefield Energy investors, leading such investors to collectively suffer $131,000,000.00 in losses.
Subsequently, on May 3, 2016, Cocuzzo was charged by the Securities and Exchange Commission in a Civil Complaint alleging that Cocuzzo committed securities fraud. SEC Litigation Release 23529 (May 3, 2016). According to the Complaint, Cocuzzo concocted a scheme which was designed to entice investors into purchasing stocks. The scheme reportedly consisted of kickbacks and bribes being paid to Cocuzzo and others in return for soliciting purchases of the stock from customers. The SEC alleged that Cocuzzo’s conduct was violative of Securities Act of 1933 Section 17(a), Securities Exchange Act of 1934 Section 10(b), and SEC Rule 10b-5.
Since 2000, Cocuzzo has been associated with nine different broker dealers, six 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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