Michael Joseph Dellaporta, Jr. Allegedly Engaged in Unsuitability, Over-Concentration & Unauthorized Trading
Michael Dellaporta allegedly engaged in unsuitability, over-concentration, and unauthorized trading, according to a settled Customer Dispute filed on Dellaporta’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.
The aforementioned dispute was filed on January 20, 2017, FINRA states, and reports that Dellaporta allegedly recommended unsuitable investments that were over-concentrated in alleged low rated collateralized mortgage obligations and other mortgage backed securities, and the claimant further alleges that the securities were purchased without permission.
The settlement amount was $150,000, FINRA notes.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Michael Dellaporta’s alleged acts of unsuitability, over-concentration, and unauthorized trading. Investors who believe they may have lost money in activity related to Michael Dellaporta’s alleged acts of unsuitability, over-concentration, and unauthorized trading are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Michael Dellaporta Discharged by American Financial Services, Inc for Alleged Company Policy Violations Related to Unauthorizes Use of Discretion
Michael Dellaporta was also the subject of an Employment Separation after Allegations Action filed on his FINRA BrokerCheck Report. Said action was filed on June 23, 2015, and further alleges that Dellaporta was terminated for company violations related to unauthorized use of discretion, solicitation of fixed income securities not meeting firm rating requirements, and solicitation of fixed income securities not meeting firm rating requirements, FINRA states.
Michael Dellaporta has been registered with B.B. Graham & Company in Fort Lauderdale, FL, since August 10, 2018, and has had 41 years in the securities industry with 18 different firms, FINRA notes.
Dellaporta also worked for Fusion Analytics Securities LLC in Coral Springs, FL from August 28, 2015 until August 13, 2018, and with Ameriprise Financial Services, Inc. in Ft. Lauderdale, FL from September 10, 2010 until July 17, 2015, FINRA states.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Michael Dellaporta’s alleged acts of unsuitability, over-concentration, and unauthorized trading. 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, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Michael Dellaporta’s alleged acts of unsuitability, over-concentration, and unauthorized trading may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.