Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) reports alarming information in regard to securities broker Louis Telerico [CRD#: 443875, Dayton, Ohio]. Supposedly, at least 16 clients raised serious concerns about the securities broker, who worked for Westminster Financial between 2012 and 2016. Also, FINRA sanctioned Telerico for outstanding civil judgments and for failing to report that his companies filed bankruptcy. In sum, these disclosures suggest that among other things, Telerico acted negligently through his recommendations and falsified information in connection with investment purchases. Read on to learn more concerning the allegations against Telerico.
Westminster Financial Clients Indicate Louis Telerico Misrepresented Investments
Evidently, a client of Westminster Financial contested Louis Telerico’s actions by filing FINRA Arbitration #: 19-01742 on June 20, 2019. Notably, the client indicated that the securities broker falsified details concerning the risks of investments. It appears that the securities broker possibly concealed bad information about the investments too. Moreover, the client suggested that the securities broker dishonored an investment agreement. These allegations suggest that Telerico caused the client to sustain losses. Because of this, the client demanded compensation from Westminster Financial or Telerico in the amount of $468,249.17 in this ongoing matter.
Telerico Allegedly Breaches Westminster Client’s Contract
Apparently, on June 19, 2019, a Westminster Financial client filed Civil Suit#: 2:18-cv-01434 concerning Louis Telerico. Notably, the client asserted that Telerico did not comply with a settlement agreement. It is possible that Telerico sold the client unreasonable investments which resulted in losses. As a result, the client requested $275,000 in compensation from Westminster Financial or Telerico. Apparently, this civil suit is pending a resolution.
Louis Telerico Allegedly Provides Bad Advice To Westminster Financial Client
Evidently, a client of Westminster Financial contested Louis Telerico’s actions by placing FINRA Arbitration #: 17-00988 on July 30, 2018. Allegedly, Telerico caused the client to incur unreasonable losses on the purchase of “art and land.” Consequently, the client made a claim for compensatory damages from Westminster Financial or Telerico in the amount of $426,000 in this ongoing matter.
Losses From Louis Telerico?
Other clients indicate that Louis Telerico made excessive, unauthorized and unsuitable trades which caused losses. Have you experienced losses by investing with Telerico? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Telerico and brokerage firms.