Raymond John Pirrello Allegedly Exchanged Business Related Text Messages, & Used His Personal Cell Phone, Business Related Emails, & an Unauthorized Personal Email Address
Raymond Pirrello allegedly exchanged business related text messages, used his personal cell phone and business related emails, and allegedly used an unauthorized personal email address, according to a Regulatory Action filed on Pirrello’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.
The aforementioned action was filed on November 20, 2018, FINRA states, and also alleges that Garden State Securities’ WSP’s did not permit the use of text messages or personal email for business communications with customers.
Pirrello allegedly took no steps to retain or provide his firm with any of the text messages or emails he exchanged with the customer, all of which were deleted, causing the firm to fail to comply with its recordkeeping obligations, FINRA reports.
Said communications allegedly also included a written complaint by the customer alleging that as a result of Pirrello‘s misconduct, including failure to follow the customer’s instructions, the customer suffered approximately $300,000 in damages, FINRA notes.
Pirrello also allegedly willfully failed to amend his Form U4 to disclose this customer complaint, FINRA states.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Raymond Pirrello’s alleged exchange of business related text messages. Investors who believe they may have lost money in activity related to Raymond Pirrello’s alleged exchange of business related text messages are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Raymond Pirrello Suspended & Fined $20K
Raymond Pirrello, based on the aforementioned alleged behavior, allegedly violated sections of the Securities Exchange Act, and therefore, was fined $20,000 by FINRA, and suspended in all capacities for 18 months starting on December 3, 2018, according to the aforementioned Regulatory Action.
Raymond Pirrello worked for 19 years in the securities industry at six different firms, and has 15 disclosures in total on his FINRA BrokerCheck Report. Pirrello was most recently registered at Garden State Securities, Inc in Hackensack, New Jersey from August 14, 2008 until May 20, 2016, FINRA reports.
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 Raymond Pirrello’s alleged exchange of business related text messages. 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 Raymond Pirrello’s alleged exchange of business related text messages 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.