Michael Christopher Lastihenos of New York New York a stockbroker formerly employed by Wilmington Capital Securities LLC is referenced in a customer initiated investment related arbitration claim which was settled for $120,000.00 in damages based upon accusations that Lastihenos executed unsuitable stock purchases in the customers’ individual retirement accounts and brokerage account causing the customers to incur unwarranted investment losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02497 (Feb. 27, 2019).

FINRA Public Disclosure confirms that Lastihenos has been identified in five additional customer initiated investment related disputes containing allegations of his violative conduct while employed with Obsidian Financial Group and GBI Capital Partners Inc. In particular, a customer initiated investment related arbitration claim regarding Lastihenos’ conduct was resolved for $25,000.00 in damages supported by accusations that while Lastihenos was associated with Obsidian Financial Group, Lastihenos effected transactions in the customer’s account that were not suitable for the customer; excessively utilized the customer’s margin to effect transactions; and gave the customer bad advice concerning investments in stock and over-the-counter equities. FINRA Arbitration No. 12-03966 (May 19, 2014).

Thereafter, a customer initiated investment related arbitration claim involving Lastihenos’ activities was settled to resolve allegations of Lastihenos breaching a fiduciary duty to the customer and steering the customer towards investing in stocks and equity products that were not consistent with the customer’s investment goals or financial circumstances. FINRA Arbitration No. 16-00103 (Mar. 5, 2016). Additionally, a customer initiated investment related arbitration claim concerning Lastihenos’ conduct was resolved for $7,800.00 in damages founded on accusations that Lastihenos negligently transacted in the customer’s account; breached his fiduciary duties to the customer; and executed inappropriate equity transactions in the customer’s account. FINRA Arbitration No. 18-00284 (Nov. 16, 2018).

Lastihenos’ registration with Wilmington Capital Securities LLC has been terminated as of May 31, 2016. He has been associated with eight different broker dealers which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach

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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.

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