SW Financial Sued By Investor For Churning
Joseph Lianzo of Melville New York a stockbroker currently registered with SW Financial is referenced in a customer initiated investment related arbitration claim where the customer requested $108,215.00 in damages supported by allegations that (1) contractual obligations to the customer were breached (2) unauthorized trades were executed in the customer’s account (3) the customer’s account was negligently handled and (4) the customer’s investment portfolio of stocks was churned. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01055 (Apr. 3, 2018).
FINRA Public Disclosure confirms that another customer initiated investment related arbitration claim involving Lianzo’s conduct was resolved for $100,000.00 in damages founded on accusations including unsuitable recommendations having been made to the customer, misrepresentations being made about the terms of investing, margin fraud, failure to follow the customer’s instructions, unauthorized transactions being placed in the customer’s account, breach of contract, negligence and churning of the customer’s equity account. FINRA Arbitration No. 14-00056 (Nov. 21, 2014).
Since April 22, 2002, Lianzo has been associated with nine different broker dealers, five of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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