Category Archives: Cor Clearing

Rafael Santiago-Former COR Clearing Broker-Discloses $495,000 Customer Dispute Over Sale of VGTEL Stock

UPDATE AUGUST 2016-FINRA records disclose that a customer of COR Clearing has filed FINRA arbitration 16-2100 alleging damages of $778,119 for recommending worthless securities and fraud.

UPDATE JULY 2016-FINRA records indicate that Rafael Santiago was permanently barred by FINRA for failing to respond to a FINRA request for information.

ORIGINAL POST MAY 2016-New York

According to FINRA records, Rafael Santiago,  a broker who is not currently registered  with any firm, discloses a pending customer dispute. Rafael most recently was employed by Primary Capital until 2/2016. Prior to that he was employed by several other firms including, COR Clearing, Morgan Stanley and Lighthouse Financial Group.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA Case 15-02385, a customer of COR Clearing alleges damages of $495,000 for failure to adhere to opening, administering and supervising is accounts and other indirect accounts with the promotion of VGTEL stock to its investors.

In 10/2014, Santiago was discharged from COR Clearing who alleged that Santiago entered unauthorized trades in a customer’s account

If you have questions about  a brokerage account handled by Rafael Santiago , call to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Christopher Cervino-Former Cor Clearing StockBroker-Convicted of Securities Fraud

UPDATE MARCH 2017Christopher Cervino, 44, of Franklin Lakes, New Jersey was convicted of one count of conspiracy to commit securities fraud in connection with his role in a securities fraud scheme involving a publicly traded over the counter company, He faces up to five years in prison, according to this press release from the United States Attorney’s Office.

UPDATE AUGUST 2016Cervino discloses that a customer of COR Clearing has filed FINRA arbitration 16-2100 alleging damages of $778,119 for recommending an investment in penny stocks that the customer claims to be worthless.

UPDATE JULY 2016Cervino was permanently barred by FINRA for failing to respond to FINRA request for information.

ORIGINAL POST January 2016- New York

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

According to FINRA recordsChristopher M. Cervino has been charged with securities fraud, money laundering and wire fraud in the US District Court for the Southern District of New York. Cervino is not currently registered with FINRA. He was registered with Primary Capital, LLC, from 10/2014-1/2016. Prior to that he was registered with Cor Clearing from 8/2013-10/2014, and before that with Wilson-Davis & Co. from 7/2012-8/2013. He was registered for a short time 9/2011-12/2011 with Delaney Equity Group of Palm Beach Gardens, FL.

FINRA records disclose that Cervino is currently named in a pending customer dispute. In FINRA case 15-2385, a customer alleges that while he was employed by Cor Clearing, Cervino failed to properly handle customer accounts with regard to the promotion of VGTEL stock. Damages are alleged to be $495,000.

If you have losses in an account handled by Christopher Cervino contact us to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870