Anthony Mastroianni, Jr. Allegedly Churned a Senior Citizen’s Account Held at J.P. Turner & then at Alexander Capital
Anthony Mastroianni, Jr. allegedly churned an elderly customer’s account, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorney Alan Rosca.
Attorney Alan Rosca, of the Rosca Scarlato law firm, is investigating activity related to Anthony Mastroianni, Jr.’s alleged churning of customer accounts. Investors who believe they may have lost money in activity related to Anthony Mastroianni, Jr.’s alleged churning of customer accounts are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Said account was allegedly held at J.P. Turner and then at Alexander Capital, the AWC notes, and Anthony Mastroianni, Jr. was associated with J.P. Turner and then at Alexander Capital whilst allegedly churning the aforementioned accounts.
Churning is a term applied to the practice of a broker conducting excessive trading in a client’s account for the reason of generating commissions, and is also unethical and violates SEC Rules.
Mastroianni, in April of 2009, became associated as a GSR with J.P. Turner & Company, L.L.C. and, in May 2012, became associated as a GSR with Alexander Capital, L,P, where he remained until November 2013, the AWC reports.
Anthony Mastroianni, Jr. Allegedly Borrowed $90,000 from a Customer; Mastroianni, Jr. Banned by FINRA
Anthony Mastroianni, Jr. also allegedly borrowed $90,000 from said customer as well as an additional customer in four transactions, without notifying his firms or obtaining their approval, according to the aforementioned AWC under review by attorney Alan Rosca.
Anthony Mastroianni, Jr., based on the alleged aforementioned behavior, fell under the scope of a FINRA investigation, and FINRA sent a request on October 31, 2016 that Anthony Mastroianni, Jr. appear for on-the-record testimony , the AWC notes.
Mastroianni, Jr. allegedly refused to appear for on-the-record testimony as requested FINRA after FINRA opened a case to investigate alleged acts of customer churning, the AWC notes.
Mastroianni allegedly acknowledges that he received FINRA’s request and would not appear for on-the record testimony at any time, and hence, violated FINRA Rules and has been barred by FINRA, the AWC reports.
As a result of the aforementioned behavior Anthony Mastroianni, Jr. allegedly violated FINRA Rules and hence has been barred by FINRA from associating with any FINRA member in any capacity.
Furthermore, the AWC also notes that “the sanctions imposed herein shall be effective on a date set by FINRA staff, A bar or expulsion shall become effective upon approval or acceptance of this AWC.”
One should also note that, according to the AWC, Anthony Mastroianni, Jr. neither admitted nor denied the FINRA findings.
Securities Lawyer Investigating
The Rosca Scarlato law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Anthony Mastroianni, Jr.’s alleged churning of customer accounts. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Anthony Mastroianni, Jr.’s alleged churning of customer accounts may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at aarosca@rscounsel.law, or through the contact form on this webpage.
