Paul Ellias Colchamiro, of Melville, New York, a stockbroker currently registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer sought at least $2,000,000.00 in damages founded on allegations including: closed-end funds and equities were effected in the customer’s account that were not suitable for the customer; the customer’s investment portfolio had been churned; and Oppenheimer & Co. Inc. failed to supervise Colchamiro’s business activities between December of 2010 and December of 2016. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00635 (Mar. 10, 2017).
FINRA Public Disclosure confirms that another customer initiated investment related written complaint involving Colchamiro’s conduct was settled for $18,500.00 in damages supported by accusations that the customer’s investment account was handled in an unethical and negligent manner while Colchamiro was associated with PaineWebber, Inc., causing the customer to sustain investment losses.
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