Richfield, Ohio-April 15, 2015
Jerry A. Cicolani, 51, was charged in a criminal information with selling unregistered securities in KGTA Petroleum, Ltd., causing dozens of investors to lose over $7 million, according to an FBI press release.
Cicolani, who was a registered broker with PrimeSolutions Securities, Inc. , concealed his dealings with KGTA from the company while earning $5 million in commissions on the sale of the KGTA stock. FINRA records indicate that Cicolani was registered with PrimeSolutions Securities from 8/2010-5/2014. Prior to that he was registered with Merrill Lynch in Akron, OH. His official records indicate that he has been named in 69 customer disputes and has been terminated twice.
Kelly Hood, 36, of Naples, Florida, has also been charged in a related matter for structuring commission payments to himself and Cicolani in a manner to evade bank reporting requirements.
PrimeSolutions Securities is headquartered in Cleveland, Ohio, and is registered in 32 states.
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.
Florida-561 391 1900