Nicola Ottavio Caporaso of Melville New York a stockbroker formerly registered with MML Investors is referenced in a customer initiated investment related written complaint which was resolved for $20,000.00 on January 26, 2018 supported by allegations that (1) Caporaso inappropriately advised customers to surrender their annuity investments and use the proceeds for managed account investments and (2) Caporaso utilized documents containing forged customer signatures to effect transactions in the customer’s accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that Caporaso is the subject of a customer initiated investment related written complaint on March 15, 2017 where the customer requested $25,000.00 in damages founded on accusations that the customer’s signature was forged on whole life insurance documentation that was submitted to the company in the course of applying for a policy in the customer’s name.
Caporaso’s registration with MML Investors Services has been terminated as of April 19, 2017. He became employed by Equity Services Inc. on December 23, 2018. Since January 24, 2003, Caporaso has been associated with eight different broker dealers. Caporaso’s first four broker dealer employers, Harrison Securities Inc., Benson York Group Inc., First Hudson Financial Group, Inc., and Ehrenkrantz King Nussbaum Inc., have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
