Category Archives: Failure to Cooperate with Regulatory Investigation

Christos A. Kalatoudis-Former Worden Capital Broker-Discloses Regulatory Events & Pending Judgment/Liens

July 2016-Lake Success, New York

The FINRA records of Christos A. Kalatoudis ,  a currently unlicensed stock broker who was last employed by Worden Capital Management, disclose  2 prior regulatory events,  4 prior finalized customer disputes and 2 outstanding judgement/liens.

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 May 2016 FINRA suspended Christos A. Kalatoudis for failing to respond to a FINRA request for information . FINRA Case# 2015047385601. In January 2016 FINRA suspended Kalatoudis for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to FINRA to provide information concerning the status of compliance. FINRA Case# 14-02428.

In FINRA Case 14-02428, a customer of his prior employer John Thomas Financial brought an arbitration alleging that Kalatoudis concentrated their accounts in unsuitable and risky investments, including ‘inverse’ exchange traded funds, short term puts and private placements. At the conclusion of the arbitration the FINRA panel ordered Kalatoudis to pay the customers $180,781. Young v Kalatoudis, et al. 

FINRA records disclose two outstanding judgments or liens against Kalatoudis. The IRS has a lien for $287,786 and there is a judgment in the amount of $3,986 in favor of 2 Gold LLC.

Christos A. Kalatoudis was employed by Worden Capital Managment from 11/2013-1/2016. Prior to that he was employed by a number of firms, including: National Securities Corporation, John Thomas Financial (expelled by FINRA 10/2013), and Joseph Gunnar & Co. 

If you have losses in an account handled by Christos A. Kalatoudis call to learn how you may be entitled to collect 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

Michael S. Lavolpe-Former Meyers Associates Broker-Discloses Multiple Pending Customer Disputes

July 2016-New York

The FINRA records of Michael S. Lavolpe  , a  currently unlicensed stockbroker who was  most recently employed by  Meyers Associates  disclose a pending regulatory event, 4 pending customer disputes, 2 prior customer disputes and an outstanding judgement/lien.

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 Disciplinary Proceeding 2015047559201, in October 2015, Lavolpe’s employer Meyers Associates reported to FINRA that a customer had filed an arbitration claiming that Lavolpe had engaged in unsuitable activity in the account. Lavolpe failed to respond to FINRA’s requests for information leading to the filing of the FINRA proceeding.

FINRA Case 15-01019 brought by a customer of Meyers Associates alleging unsuitability was settled for $60,000. FINRA Case 10-3764 brought by a Meyers Associates customer alleged churning, failure to supervise, negligence and breach of fiduciary duty. That case was settled for $60,000.

The four currently pending cases include:

  • FINRA Case 16-0402 in which a Meyers Associates customer alleges damages of $308,703 for unsuitable investments in penny stocks.
  • FINRA Case 16-0454 in which a customer alleges damages of $545,000 for unsuitable investments in private placements.

Lavolpe discloses an outstanding tax lien in favor of the IRS in the amount of $4,277.35.

Michael S. Lavolpe was employed by Meyers Associates from 3/2006-7/2014. He is not currently licensed. 

Investors who have questions about how their account has been handled by Michael S. Lavolpe should call to learn how you may be entitled to collect 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

Antonio Costanzo-Former Newport Coast Securities Broker-Discloses Churning Complaint-Industry Bar

July 2016-Chesapeake, VA

The FINRA records of Antonio Costanzo  , a former stock broker who was last employed by  TItus Rockefeller  disclose a pending regulatory event, a prior final regulatory event, 8 prior customer disputes and a termination from employment.

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.

Costanzo‘s FINRA disclosure reports that he is named in a FINRA complaint alleging that he, with his then member firm Newport Coast Securities and other firm representatives excessively traded and churned customer accounts. FINRA alleges that Costanzo engaged in a deceptive and manipulative scheme by churning the accounts of customers and acted with the intent to defraud customer’s interests by seeking to maximize his own remuneration. Costanzo violated his obligation to conduct his activities in accordance with ethical standards by conditioning restitution offers upon customer’s’ refusal to cooperate with a FINRA investigation and by attempting to dissuade customers from testifying in the disciplinary hearing. FINRA Case# 2012030564701.

In August 2015, Costanzo was permanently barred from the securities industry by FINRA for failing to respond to a FINRA request for information. FINRA Case#2015044604701.

Four  of the prior customer disputes were settled with payments of monetary compensation.

In July 2008, Costanzo was discharged by Wedbush Morgan Securities who alleged “violation of industry rules, possible fraud’ in connection with the termination.

Costanzo was employed by TItus Rockefeller from  1/2013-3/2015, with IFS Securities from 7/2012-12/2012 and with  Newport Coast Securities  from 7/2008-8/2012.

Investors who suffered losses in an account handled by Antonio Costanzo may be entitled 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

Matthew DiGregorio-Former J.D. Nicholas Broker-Permanently Barred from Securities Industry-Melville, NY

Melville, NY

UPDATE JULY 2017-In 11/2016 Matthew DiGregorio was permanently barred from the securities industry by FINRA for failing to pay an award as ordered by a FINRA arbitration panel to heis for partners at a FINRA member firm. The FINRA panel also found that DiGregorio made false representations to the panel regarding his child’s accident to procure continuances of the hearing sessions.

ORIGINAL POST-July 2016

The FINRA records of Matthew DiGregorio  , a stock broker who formerly worked for Aegis Capital and J.D. Nicholas & Associates , disclose  a currently pending regulatory matter, a prior final regulatory event, 5 prior final customer disputes  and 3 outstanding judgement/liens

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 a currently pending FINRA Case # 2015045909501, FINRA alleges that DiGregorio failed to pay an award as ordered by a FINRA arbitration panel to his former partners at a FINRA member firm and during the investigation told FINRA he does not intend to honor the award. The complaint alleges that DiGregorio refused to produce any documents responsive to the arbitration panel’s orders, specifically in relation to his claims that his child was involved in an accident that resulted in an adjournment or the panel hearings.

In prior regulatory matter 13-0570 DiGregorio was suspended in 8/2015 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information.

DIgregorio discloses the following judgements:

  • a judgement in favor of Volvo Car in the amount of $3,858.74
  • a judgement related to the dispute with his former partners in the amount of $3,452.93
  • a judgment in favor of Stacey DiGregario in the amount of $11,617.57

DiGregorio  was employed by Aegis Capital from 6/2015-8/2015, with J.D. Nicholas & Assoc. from 1/2013-7/2015 and before that with Legend Securities from 6/2012-1/2013. He was with Chelsea Financial Services from 9/2010-7/2012.

If you have losses in an account handled by Matthew DiGregorio , contact us to discuss your 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