Jonathan Eric Altman, of Boston, Massachusetts, has been charged by the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth of Massachusetts in a Compliant which alleged that Altman made unsuitable investment recommendations pertaining to equities and real estate investment trust products, effected unauthorized transactions, excessively traded in the customer’s account, and engaged in conduct which was unethical and dishonest. Docket No. 2015-0178 (Oct. 20, 2016).
FINRA Public Disclosure reveals that Altman has been named in seven additional customer initiated investment related disputes regarding allegations of Altman’s misconduct while employed with Detwiler, Mitchell, Fenton & Graves, Inc. and Jesup & Lamont Securities Corp. Particularly, on September 9, 1999, a customer initiated investment related written complaint involving Altman’s conduct was settled for $21,850.96 in damages based upon allegations that Altman effected unauthorized equity transactions in the customer’s account.
On June 18, 2000, a customer initiated investment related complaint regarding Altman’s activities was resolved for $41,000.00 in damages based upon allegations that Altman effected unsuitable and unauthorized transactions in the customer’s account, and made misrepresentations to the customer pertaining to stock transactions. Similarly, on April 29, 2002, a customer initiated investment related arbitration claim involving Altman’s conduct was settled for $75,000.00 in damages based upon allegations that Altman made investment based misrepresentations to the customer, and effected unauthorized and unsuitable transactions.
On July 5, 2008, another customer initiated investment related arbitration claim regarding Altman’s activities was resolved for $220,000.00 in damages based upon allegations that Altman failed to properly diversify the customer’s investment portfolio, breached his contractual and fiduciary duties, negligently managed the customer’s investments, and defrauded the customer in reference to over-the-counter equity transactions.
Since June 24, 1996, Altman has been associated with seven different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.
Guiliano Law Group
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