Sam Peter Paolini of New York New York a stockbroker formerly registered with Hornor Townsend Kent Inc. is the subject of a customer initiated investment related written complaint on November 13, 2020 where the customer requested $141,222.00 in damages supported by accusations that the customer had been told to buy a whole life insurance policy that was not appropriate and that the customer invested in outside transactions because of Paolini while he was associated with Hornor Townsend Kent.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Paolini has been barred from associating with any FINRA member in any capacity founded on findings that he misused funds from a customer of Hornor Townsend Kent. Letter of Acceptance Waiver and Consent No. 2017055696501 (Oct. 13, 2017). According to the AWC, Paolini was provided with money from the customer for investments. The stockbroker endorsed and cashed the customer’s check and then used the funds for his own benefit. FINRA determined that Paolini’s conversion of the customer’s funds was a violation of FINRA Rule 2010.
Paolini was discharged by Hornor Townsend Kent on September 25, 2017 based upon allegations that he violated policies on misusing customer funds.