Matthew Christopher Maczko of Oak Brook Illinois a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $500,000.00 in damages founded on accusations that Maczko gave the customer bad investment recommendations concerning the securities held in the customer’s account while Maczko was employed by Wells Fargo. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00602 (Feb. 26, 2018).

FINRA Public Disclosure confirms that Maczko has been identified in seven more customer initiated investment related disputes pertaining to allegations of Maczko’s misconduct when he was employed with securities broker dealers including Wells Fargo. Specifically, on November 14, 2016, on a customer initiated investment related civil action involving Maczko’s conduct was resolved for $1,000,000.00 in damages based upon accusations that the customer was not provided information concerning the commissions that were assessed on equities trades placed in the customer’s account; and trades were executed without the customer’s permission.

Moreover, a customer initiated investment related arbitration claim concerning Maczko’s activities was settled for $375,000.00 in damages supported by allegations that between 2008 and 2016, misrepresentations had been made to the customer concerning the terms and conditions of investments selected for the customer’s account by Maczko; and the investment recommendations Maczko made failed to be appropriate for the customer. FINRA Arbitration No. 16-02712 (Feb. 6, 2017). On February 9, 2017, another customer initiated investment related complaint in regards to Maczko’s conduct was resolved for $20,000.00 in damages founded on accusations of unauthorized over-the-counter equities trades being placed in the customer’s investment account; and commissions being charged to the customer at excessive rates.

Then, on June 6, 2017, a customer initiated investment related complaint involving Maczko’s activities was settled for $40,000.00 in damages based upon allegations that the customer had been assessed unwarranted fees on the customer’s managed-wrap accounts at Wells Fargo Advisors.

FINRA Public Disclosure additionally reveals that Maczko has been barred from associating with any FINRA member in any capacity founded on findings that (1) Maczko effected excessive trades in an elderly Wells Fargo customer’s account and (2) Maczko gave FINRA misleading and inaccurate testimony when he was probed about his communications with customers of the firm. Letter of Acceptance Waiver and Consent No. 2016050430201 (Feb. 9, 2017).

According to the AWC, Maczko executed more than two thousand eight hundred transactions in accounts owned by a ninety-three year customer, JZ. Evidently, those securities transactions caused JZ to sustain losses totaling $397,000.00 while JZ had to pay fees totaling $84,270 and commissions of approximately $581,650.00. FINRA found Maczko’s conduct violative of FINRA Rules 2010 and 2111 and NASD Rule 2310. FINRA also revealed that Maczko lied to FINRA during the time he was providing recorded testimony about his communications with elderly customers CL and KL. Maczko falsely claimed that he did not correspond with these customers; conduct violative of FINRA Rules 2010 and 8210.

Maczko was discharged by Wells Fargo Advisors supported by accusations of his excessive trading in customers’ investment accounts.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website