Investor Alert > Michael Cristopher Venturino Investigation – Four Customer Complaints, Failure to Comply with Arbitration Award

Posted Sep 26, 2018

by Alan Rosca

Michael Cristopher Venturino Investigation – Four Customer Complaints, Failure to Comply with Arbitration Award

Michael Cristopher Venturino Failed to Comply with an Arbitration Award, Had Multiple Customer Complaints

Michael Venturino, a broker based in Woodbury, New York, failed to pay an award and satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Venturino was suspended by FINRA on July 17, 2018 but FINRA lifted the suspension on July 2018 due to the fact that the respondent filled a motion to vacate, FINRA stated. Venturino has also been the subject of multiple customer complaints.

The investor rights lawyers at Rosca Scarlato law firm are investigating Mr. Venturino’s conduct to determine whether any other customers may have similar complaints against him. Investors may contact investor rights attorney Alan Rosca to provide information or inquire about their legal options.

Venturino Failed to Pay Arbitration Award

Venturino was sued by a customer who requested compensatory damages in the amount of $83,322.95, interest through the date of the award, other case expenses, including all filing fees and related costs. Venturino denied the charges. Following the hearing, the panel of arbitrators ruled against Venturino and ordered him to pay damages to the claimant. A motion seeking to vacate the award was filed afterward by respondent.

Michael Venturino Had Four Customer Complaints

In the last two years, Venturino had four customer complaints. Two of these complaints alleged excessive and unauthorized trading and subsequently settled, and the other two are pending. Of the pending complaints, one alleges excessive trading and unsuitability and is requesting $55k in damage, while the other one is alleging unauthorized trading and unsuitability and is requesting $1.2 m in damages, FINRA notes.

Securities Lawyers Investigating on Behalf of Investors

The Rosca Scarlato LLC law firm is currently investigating Michael Cristopher Venturino’s alleged violations of the FINRA Rules and customer complaints, to determine whether additional customers may have similar claims. The firm represents investors across the country who lose money as a result of investment-related fraud or misconduct. The Rosca Scarlato attorneys take most cases on behalf of investors on a contingency fee basis, advance the case costs, and only get paid for their fees and costs out of money recovered for their clients. Attorney Alan Rosca, a security 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 securities class actions.

If you or a loved one have lost money investigating with Michael Cristopher Venturino, you may contact attorney Alan Rosca or his colleagues for a free, no-obligation evaluation of your recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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