Louis Anthony Telerico Allegedly Failed to Disclose the Filing of Bankruptcy Petitions by Various Companies He Controlled, & Three Tax liens & Three Civil Judgments Filed Against Him
Louis Telerico, a former Ohio-based Westminster Financial Securities broker, allegedly failed to disclose the filing of bankruptcy petitions by various companies he controlled, and three tax liens and three civil judgments filed or entered against him personally, according to a recent FINRA Letter of Acceptance, Waiver, and Consent (AWC) under review by attorney Alan Rosca.
Attorney Alan Rosca, of the Goldman, Scarlato & Penny law firm, is investigating activity related to Louis Telerico’s alleged failure to disclose the filing of bankruptcy petitions. Investors who believe they may have lost money in activity related to Louis Telerico’s alleged failure to disclose the filing of bankruptcy petitions are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Louis Telerico has spent upwards of 46 years in the securities industry, and has been registered with the following firms, his BrokerCheck notes:
- Westminster Financial Securities in Dayton, Ohio (2012-2016)
- Stifel Nicolaus & Company in Fairlawn, Ohio
- Butler Wick & Company in Fairlawn, Ohio
- Merrill Lynch in Cleveland, Ohio
- Blythe Eastman Dillon & Company.
Telerico is currently not registered with any state or firm, his BrokerCheck states.
Louis Telerico has Allegedly Received Four Customer Complaints; Telerico Suspended by FINRA
Louis Telerico, according to his FINRA BrokerCheck Report under review by attorney Alan Rosca, has received four customer complaints:
- In 2001 a customer alleged he, while employed at Merrill Lynch, breached his fiduciary duty, made unsuitable recommendations, breached contract, and executed excessive trades. The complaint settled for $65,000.
- In 2001 a customer alleged he, while employed at Merrill Lynch, breached his fiduciary duty, acted negligently, executed excessive trades, and breached contract. The complaint resulted in an award to the customer of $300,000.
- In 2002 a customer alleged Louis Telerico, while employed at Merrill Lynch, recommended unsuitable investments and executed excessive trades. The complaint settled in 2006 for $182,000.
- In 2010 a customer alleged Louis Telerico, while employed at Stifel Nicolaus, led an unauthorized and unsuitable investment strategy, and executed excessive trades. The complaint settled for $85,000.
Telerico, based on the aforementioned alleged behavior, has been suspended by FINRA.
Securities Lawyer Investigating
The Goldman, Scarlato & Penny law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Louis Telerico’s alleged failure to disclose the filing of bankruptcy petitions. 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 Louis Telerico’s alleged failure to disclose the filing of bankruptcy petitions may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.