Brokerage Fraud

Scott William Macolino of Atlanta Georgia a stockbroker formerly registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $121,000.00 in damages based upon allegations including (1) misrepresentation (2) fraud (3) breach of contract (4) negligence (5) breach of fiduciary duty and (6) violation of Florida Securities Act in reference to securities transactions effected in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00095 (Jan. 18, 2018).

FINRA Public Disclosure reveals that Macolino has been identified in four additional customer initiated investment related disputes containing accusations of his violative conduct while employed with SunTrust Investment Services Inc. and Merrill Lynch, Pierce, Fenner & Smith Inc. Specifically, on August 22, 2002, a customer filed an investment related complaint involving Macolino’s conduct where the customer sought $641,400.00 in damages founded on allegations that Macolino failed to abide by the customer’s instructions pertaining to over-the-counter equities investment transactions.

On December 9, 2002, another customer filed an investment related complaint regarding Macolino’s activities in which the customer alleged that Macolino made unsuitable investment recommendations to the customer concerning a collar on the customer’s UPS stock investment. Furthermore, on December 1, 2011, a customer initiated investment related complaint involving Macolino’s activities was settled for $75,000.00 in damages supported by accusations of due diligence failures and omissions concerning private placement real estate investments. Then, on April 22, 2013, a customer filed an investment related complaint concerning Macolino’s conduct where the customer requested $800,000.00 in damages based upon allegations that Macolino misinformed the customer about asset-backed debt investments.

FINRA Public Disclosure also confirms that on March 23, 2003, Macolino was discharged from Merrill Lynch founded on accusations that he breached client confidentiality. Macolino has been registered with Stifel Nicolaus since December 4, 2015.

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Guiliano Law Group

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