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DID DOUGLAS ANTHONY LEONE CAUSE YOU INVESTMENT LOSSES?

Douglas Leone Formerly with Salomon Whitney Financial Has 9 Customer Complaints for Alleged Broker Misconduct

Who is Douglas Leone formerly with Salomon Whitney Financial?

Douglas Leone (CRD #2453784) who was formerly registered with Salomon Whitney Financial and located in Melville, New York is a subject of one of our many securities industry sales practice abuse investigations. 

Douglas Leone has also been the subject of 4 FINRA regulatory investigations and actions over the years.  In May 2018, he was permanently barred from association with any FINRA member, in any capacity, fined $185,000, and ordered to pay restitution in excess of $325,000 for allegedly churning customer accounts.

Douglas Leone Customer Complaints

Douglas Leone has been the subject of 9 customer complaints that we know about. Four of Douglas Leone’s 9 customer complaints were settled in favor of investors.

There are currently two pending customer complaints filed against Salomon Whitney Financial for investment losses caused by Douglas Leone’s alleged misconduct.

Allegations Against Douglas Leone

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Douglas Leone’s alleged breach of fiduciary duty, negligence, breach of contract.
  • Douglas Leone’s alleged churning, misrepresentation, breach of fiduciary duty.
  • Douglas Leone’s alleged misrepresentation.
  • Churning, negligence, unsuitability, unauthorized trading, breach of contract allegedly committed by Douglas Leone.
  • Douglas Leone’s alleged excessive trading on margin with no downside protection, false and misleading statements regarding the risks of his investments, the churning of his account, breach of fiduciary duty, breach of contract, gross negligence, and suitability.
  • The customer claimed losses of $25,000.00 from excessive commissions and suitability allegedly made by Douglas Leone.
  • Unauthorized trades failure to correct by the broker as promised allegedly committed by Douglas Leone.

Douglas Leone Red Flags & Your Rights as An Investor

Of course, Douglas Leone did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags that should put all current and former customers of Douglas Leone at Salomon Whitney Financial on alert to review carefully the activity and performance of their accounts and question whether Douglas Leone has engaged in any stockbroker misconduct that may have caused them investment losses.

The large number of customer complaints at Salomon Whitney Financial also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim to Recover Your Investment Losses at Salomon Whitney Financial Due to Douglas Leone

If you have questions about Salomon Whitney Financial and/or Douglas Leone and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $140 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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