Dawson James Securities Sued For Stockbroker Misconduct
Paul Robert DiPietro of Boca Raton Florida a stockbroker formerly employed by Dawson James Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $68,926.88 in damages founded on allegations of the customer being provided unsuitable investment advice by DiPietro as it pertained to over-the-counter equities held in the customer’s investment portfolio while the stockbroker was associated with Dawson James. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02408 (Aug. 21, 2019).
FINRA Public Disclosure reveals that DiPietro has been referenced in eight customer initiated investment related disputes containing accusations of his misconduct while he was associated with securities broker dealers including Investors Capital Corp., Chicago Investment Group LLC and Dawson James. Specifically, DiPietro is the subject of a customer initiated investment related arbitration claim which was settled for $160,000.00 in damages supported by allegations that the customer’s investment account had been churned; unsuitable equities trades were executed in the customer’s account; and Chicago Investment Group failed to supervise DiPietro’s activities which led the customer to experience unwarranted losses.
Another customer filed an investment related complaint regarding DiPietro’s activities in which the customer sought $12,000.00 in damages based upon accusations that during the time that DiPietro was employed by Investors Capital Corp., common and preferred stock and over-the-counter equities trades failed to be appropriate for the customer and caused the customer unwarranted losses. Also, a customer initiated investment related arbitration claim concerning DiPietro’s conduct was settled for $20,000.00 in damages founded on allegations that the customer was placed into penny stocks that were not suitable given the customer’s risk tolerance, investment objectives or overall circumstances.
Two more customers filed investment related complaints involving DiPietro’s conduct where the customers collectively requested $241,116.05 in damages supported by accusations of DiPietro disregarding the customers’ investment instructions as it pertained to their Dawson James over-the-counter equities portfolios resulting in unwarranted losses. DiPietro is also the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages based upon allegations that the customer’s investment portfolio had been churned by the stockbroker during the time that he was associated with Dawson James; and equities trades failed to be suitable for the customer. FINRA Arbitration No. 18-01498 (Apr. 30, 2018).
DiPietro was registered with Dawson James Securities Inc. until April 8, 2019. He has been associated with Pinnacle Investments LLC since April 1, 2019. FINRA Public Disclosure confirms that he has been associated with at least four different securities broker dealers since November 29, 2000 which are either defunct or have been expelled by regulators for violation of securities laws or industry rules.