Frank David Marinelli, of Brooklyn, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to a customer initiated investment related arbitration action, which settled for $15,000.00 in damages based upon allegations that Marinelli negligently handled the customer’s account, breached his fiduciary duty to the customer, effected trades in the customer’s account which were unsuitable, and committed fraud.
FINRA Public Disclosure reveals that Marinelli has been subject to three additional customer arbitrations. Particularly, on February 22, 2008, a customer initiated investment related arbitration action involving Marinelli’s conduct was resolved for $50,000.00 in damages based upon allegations that Marinelli breached his fiduciary and contractual obligations to the customer, and committed fraud.
On March 16, 2012, another customer initiated investment related arbitration action was settled for $102,500.00 in damages based upon allegations that Marinelli effected trades in the customer’s account without authorization, negligently handled the customer’s investment account, engaged in high pressure sales tactics, breached his fiduciary obligations to the customer, and made unsuitable investment recommendations.
Subsequently, on March 18, 2014, another customer filed an investment related arbitration action involving Marinelli’s actions, in which the customer requested $120,000.00 in damages based upon allegations that Marinelli made misrepresentations to the customer concerning investments, effected unsuitable investments in the customer’s account, breached his contractual and fiduciary duties, and defrauded the customer.
Since 1999, Marinelli has been associated with five different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or is otherwise defunct. #cockroach
Guiliano Law Group
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