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Giustino Destefano Formerly With Securities America, Inc. Has 8 Customer Complaints For Alleged Broker Misconduct

Who is Giustino Destefano formerly with Securities America, Inc.?

Giustino Destefano (CRD #4926924) who was formerly registered with Securities America, Inc. and located in Williamsville, New York is a subject of one of our many securities industry sales practice abuse investigations. Prior to Securities America, Inc., Giustino Destefano was associated with 4 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Giustino Destefano has had his own regulatory problems. In March 2016, he was suspended for 3 months and fined $10,000 by FINRA for the allegedly exercising discretion in customer accounts and executing trades without written authorization. 

Giustino Destefano Customer Complaints

Giustino Destefano has been the subject of 8 customer complaints that we know about. Five of Giustino Destefano’s 8 customer complaints were settled in favor of investors. All of the customers’ complaints except two were settled in favor of the investors.

Allegations Against Giustino Destefano

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

  • Claimant alleges that Giustino Destefano invested Claimant’s funds in unsuitable and aggressive investments. Allegations include common law fraud, breach of contract, breach of fiduciary duty, violation of California Securities Act and elder abuse.
  • Claimants allege Giustino Destefano engaged in discretionary trading and overconcentrated claimants’ accounts in unsuitable stocks. Additional allegations are negligence and breach of fiduciary duty.
  • Claimants allege that Giustino Destefano implemented a speculative investment strategy in Claimant’s accounts that was not appropriate given their risk tolerance. Allegations include misrepresentations, unsuitability, unauthorized trading, overconcentration, fraud and violations of federal securities laws and FINRA rules.
  • Client alleges Giustino Destefano effected unauthorized and unsuitable transactions.
  • Customer alleges a substantial market loss of 50% by Giustino Destefano.
  • Power of attorney for customer alleges excessive trading by Giustino Destefano.
  • Power of attorney for customer alleges unsuitable investment recommendations by Giustino Destefano.
  • The customer alleges unsuitable investment recommendations, misrepresentation, excessive trading and unauthorized trading by Giustino Destefano.

Giustino Destefano Red Flags & Your Rights As An Investor

Of course, Giustino Destefano 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 Giustino Destefano at Securities America, Inc. on alert to review carefully the activity and performance of their accounts and question whether Giustino Destefano has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Securities America, Inc. 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 Securities America, Inc. Due To Giustino Destefano

If you have questions about Securities America, Inc. and/or Giustino Destefano 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.

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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 $170 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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