DID GERALD JOHN COCUZZO CAUSE YOU INVESTMENT LOSSES?
Gerald Cocuzzo Formerly With Newbridge Securities And IAA Financial Has 10 Customer Complaints For Alleged Broker Misconduct
Who is Gerald Cocuzzo formerly with Newbridge Securities?
Gerald Cocuzzo (CRD #4047511) who was formerly registered with Newbridge Securities and located in Boca Raton, Florida is a subject of one of our many securities industry sales practice abuse investigations. Prior to Newbridge Securities, Gerald Cocuzzo was associated with IAA Financial and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Gerald Cocuzzo has had his own serious regulatory problems. In September 2017, he settled an administrative complaint filed by the United States Securities and Exchange Commission against him for allegedly receiving cash kickbacks in return for recommending and inducing his customers to buy stock in the issuer ForceField Energy, Inc. The case was settled by consent judgment to a permanent bar from any further association with any firm in the securities industry. In addition, he was enjoined by Federal court judge in connection with another securities fraud scheme. At or about the same time, he pled guilty to securities fraud and sentenced to 18 months in prison for allegedly participating in a scheme to defraud investors of the company’s stock by using their positions as stock promoter, brokers, or investor relations to push the stock. The scheme to end up costing investors approximately $131 million in losses.
Gerald Cocuzzo Customer Complaints
Gerald Cocuzzo has been the subject of 10 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. Four of Gerald Cocuzzo’s 10 customer complaints were settled in favor of investors. Five of Gerald Cocuzzo’s customers’ complaints were denied and the customers did not take any further action. There is currently one pending customer complaint filed against Newbridge Securities for investment losses caused by Gerald Cocuzzo’s alleged misconduct.
Allegations Against Gerald Cocuzzo
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Claimant alleged Gerald Cocuzzo’s over concentration and unsuitable investments.
- Claimant alleged Gerald Cocuzzo’s unsuitable investments.
- Claimants alleged Gerald Cocuzzo’s overconcentration, breach of fiduciary duty/contract, common law fraud, negligent supervision, negligent hiring and a violation of the California Securities Act.
- Client alleged Gerald Cocuzzo’s failure to follow instructions by neglecting to execute a stop loss order.
- Client alleged unsuitable investment recommendations by Gerald Cocuzzo.
- Client indicated his displeasure with the purchase of a secondary offering in Forcefield Energy Corp and was upset to see his $50K investment diminished allegedly made by Gerald Cocuzzo. Client alleged that he now knows the investment was a fraudulent offering.
- Gerald Cocuzzo’s alleged failure to follow instructions. Customer alleged stop loss orders not entered.
Gerald Cocuzzo Red Flags & Your Rights As An Investor
Of course, Gerald Cocuzzo 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 which should put all current and former customers of Gerald Cocuzzo at Newbridge Securities and IAA Financial on alert to review carefully the activity and performance of their accounts and question whether Gerald Cocuzzo has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Newbridge Securities and IAA 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 Newbridge Securities Due To Gerald Cocuzzo
If you have questions about Newbridge Securities, IAA Financial, and/or Gerald Cocuzzo 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.