Nicholas M. Giaallourakis, of Boca Raton, Florida, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim from October 20, 2015, which settled for $14,000.00 in damages based upon allegations that Giaalourakis violated Florida Securities Act, breached his contractual and fiduciary duties to the customer, committed fraud, and effected investment transactions which were unsuitable for the customer.
FINRA Public Disclosure reveals that Giaalourakis has been previously subject to two additional customer arbitrations. Particularly, on June 4, 2013, a customer initiated investment related arbitration claim involving Giaallourakis’ conduct was settled for $180,000.00 in damages based upon allegations that Giaalourakis breached his contractual and fiduciary obligations to the customer, became unjustly enriched at the customer’s expense, made misrepresentations and omissions concerning investments, and negligently handled the customer’s account.
Additionally, on August 26, 2013, a customer initiated investment related arbitration claim involving Giaalourakis’ actions was resolved for $23,266.00 in damages based upon allegations that Giaalourakis breached his contractual relationship with the customer, negligently handled the customer’s investment account, and effected unsuitable transactions in the customer’s account.
Giaalourakis’ registration with VSR Financial Services was terminated in June of 2016. Since June of 2016, he has been registered with Newbridge Securities Corporation.
Guiliano Law Group
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