Todd Michael Ellentuck of Morristown New Jersey a stockbroker formerly registered with Aegis Capital Corp is referenced in a customer initiated investment related written complaint on July 6, 2020 in which the customer requested $420,000.00 in damages founded on accusations that a contract between the customer and the securities broker dealer had been breached and that the customer was defrauded in regard to a private placement that they held between August of 2017 and November of 2018. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01866 (July 6, 2020). According to the claim, there was a breach of fiduciary duty by the Aegis Capital Crop stockbroker. The claim also alleges that Ellentuck’s negligence resulted in the customer’s damages.
Ellentuck has been identified in two more customer initiated investment related disputes regarding allegations of his misconduct when he was associated with securities broker dealers including UBS Financial Services Inc. and RBC Dain Rauscher. FINRA Public Disclosure reveals that a customer filed an investment related complaint concerning Ellentuck’s activities where the customer sought $27,000.00 in damages for unsuitable recommendation of corporate debt investments while Ellentuck was registered with RBC.
On September 27, 2018, another customer initiated investment related FINRA securities arbitration claim regarding Ellentuck’s conduct was settled for $90,000.00 in damages supported by allegations that unauthorized trades had been executed in the customer’s UBS account and that the customer had been charged excessive commissions and fees on securities transactions. FINRA Arbitration No. 17-01863 (Sept. 27, 2018). According to the claim, the stockbroker recommended unsuitable master limited partnerships, bonds, structured products and corporate debt products. The claim also alleges that omissions were made to the customer concerning the risks of investments.
Ellentuck has also been discharged by UBS founded on accusations of him making unauthorized trades, overcharging customers, and failing to follow instructions of the securities broker dealer. His registration with Aegis Capital Corp was terminated on October 25, 2018.