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 Goldman Scarlato & Penny 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 Goldman Scarlato & Penny PC 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 Goldman Scarlato & Penny 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 rosca@lawgsp.com, or through the contact form on this webpage.

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