Paul Anthony Dangelo of Saddle Brook New Jersey a stockbroker formerly registered with Oppenheimer Co. Inc. has been discharged by the firm on March 13, 2018 founded on accusations that Dangelo neglected to apprise the firm that his activities were subject of a regulatory examination.
This is not the first time that Dangelo has been terminated by a brokerage firm based upon allegations of his violative conduct. Particularly, Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on February 13, 2015, Dangelo was terminated by Wells Fargo Advisors, LLC based upon accusations that trades were placed by Dangelo in a customer’s account without the customer’s consent.
Moreover, Dangelo has been referenced in six customer initiated investment related disputes pertaining to allegations of Dangelo’s violative conduct during the time that he was employed by Oppenheimer, Wachovia Securities, LLC, UBS PaineWebber and Wells Fargo Advisors, LLC. Specifically, on September 26, 2008, a customer filed an investment related complaint pertaining to Dangelo’s conduct alleging that stock trades had been executed in the customer’s account that were neither suitable nor authorized by the customer.
Subsequently, on June 8, 2009, a customer initiated investment related complaint involving Dangelo’s activities was settled for $80,000.00 in damages founded on accusations that Dangelo excessively traded in the customer’s account and effected transactions that were not appropriate for the customer. On September 9, 1999, another customer initiated investment related complaint regarding Dangelo’s conduct was resolved for $45,000.00 in damages supported by allegations that Dangelo inappropriately handled the customer’s accounts and executed mutual fund, municipal debt and over-the-counter equities transactions that were excessive and unsuitable.
Then, on March 30, 2016, a customer brought an investment related complaint pertaining to Dangelo’s conduct where the customer requested damages estimated to exceed $5,000.00 based upon accusations of excessive trading of the customer’s unit investment trust, stock and municipal debt holdings. On September 13, 2016, another customer filed an investment related complaint pertaining to Dangelo’s activities in which the customer sought damages estimated to exceed $5,000.00 in damages founded on allegations that the customer was placed in municipal debt products that failed to conform to the customer’s investment goals of preserving principal and generating income.
Furthermore, a customer lodged an investment related complaint concerning Dangelo’s conduct alleging that between March 1, 2005 and January 20, 2017, the customer was placed in municipal debt investments that failed to conform to the customer’s risk tolerance.
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