Investors Bring FINRA Arbitration Claims Against American Capital For Private Placement Scam
Anthony Vultaggio Jr. of East Meadow New York a stockbroker formerly registered with American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages based upon allegations that the customer had been placed into an inappropriate private placement by Vultaggio during the time that Vultaggio was associated with American Capital Partners LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01042 (Apr. 20, 2020). The claim alleges that the private placement was arranged outside the auspices of American Capital Partners LLC.
This is not Vultaggio’s first time being accused of sales practice violations by a customer. FINRA Public Disclosure additionally reveals that on August 27, 2019, a customer filed an investment related arbitration claim involving Vultaggio’s conduct in which the customer requested $700,000.00 in damages supported by accusations of Vultaggio initiating a bad private placement purchase which caused the American Capital Partners customer to sustain losses. FINRA Arbitration No. 19-02392 (Aug. 27, 2019).
FINRA Public Disclosure also confirms that Vultaggio has been barred from associating with any FINRA member in any capacity based on findings of Vultaggio hindering a FINRA investigation into allegations of his outside activities. Letter of Acceptance Waiver and Consent No. 2017054945301 (Sept. 11, 2017). According to the AWC, Vultaggio was instructed by FINRA personnel to provide recorded testimony in response to American Capital Partners’ accusations of his outside business activities which involved a private offering for an entity that Vultaggio owned or managed. Vultaggio acknowledged FINRA’s request and refused to cooperate which was violative of FINRA Rules 2010 and 8210.
Vultaggio was registered with American Capital Partners between July 5, 2007 and March 30, 2017.