Questar Capital Fires Stockbroker For Unauthorized Trading

Elaine Marie Zito, of Scottsdale, Arizona, a stockbroker registered with Questar Capital Corporation, has been fired on November 2, 2016, based on allegations that she violated the firm’s supervisory procedures by exercising discretion in customer accounts.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Zito has been identified in three customer initiated investment related disputes pertaining to allegations of her wrongdoing.

Particularly, an investment related complaint regarding Zito’s conduct was filed by a customer on September 18, 2001, wherein the customer sought $23,741.75 in damages based on allegations that Zito furnished false information to the customer regarding her variable annuity; the customer was apparently informed that annuity funds could be accessed without the customer bearing a penalty.

Then, a customer initiated investment related complaint concerning Zito’s activities was filed on April 20, 2017, in which the customer requested $35,000.00 in damages supported by allegations that Zito made misrepresentations to the customer by claiming that the value of the customer’s account would double in value over a ten-year period. Moreover, on April 24, 2017, a customer filed an investment related complaint involving Zito’s activities, seeking $5,000.00 in damages founded upon accusations that she made misrepresentations to the customer regarding the customer’s purchase of a variable annuity.

Since November 28, 2016, Zito has been associated with Newbridge Securities Corporation. She has been registered with eleven different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.

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