Salomon Whitney Sued By Investors For Negligence
Joseph Augustien Lianzo of Farmingdale New York stockbroker currently associated with Salomon Whitney Financial has been referenced in a customer initiated investment related arbitration claim which has been settled for $14,999.00 in damages supported by allegations that (1) contractual obligations were not complied with in regard to the customer’s investments (2) transactions facilitated by the stockbroker were unsuitable and unauthorized (3) the customer’s account had been mismanaged by the stockbroker and (4) common or preferred equity transactions were effected primarily for Lianzo to make commissions when he was employed by Salomon Whitney. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01055 (June 26, 2019).
This is not the first time that Lianzo has been referenced in a customer initiated investment related dispute concerning accusations of the stockbroker’s misconduct in the securities industry. In particular, FINRA Public Disclosure confirms that Lianzo is additionally referenced in a customer initiated investment related arbitration claim which has been resolved for $100,000.00 in damages founded on accusations that the customer was provided with bad investment recommendations concerning over the counter equities transactions in view of the customer’s objectives for investing and tolerance for risk, false or misleading statements had been made in regard to the terms and conditions of investments, margin was inappropriately utilized to effect securities transactions, investment instructions were not complied with, purchases or sales had been executed without the customer’s permission, and the customer’s investment account had been churned and negligently administered.
Lianzo has been registered with Salomon Whitney Financial since August 22, 2014.