ruco Terminates Brokers Michael Pineda, Donna Guglielmi, Rajen Sheth
Pruco Securities, LLC (CRD#: 5685) is a Financial Industry Regulatory Authority (“FINRA”) regulated brokerage firm and (“SEC”) regulated investment adviser firm. Pruco Securities, LLC’s main offices are in Newark, New Jersey. Since September 22, 2003, Pruco Securities has amassed 42 discloses regarding its alleged mishaps in the securities industry. 28 of those disclosures concern regulatory events, such as FINRA censuring Pruco Securities for violating FINRA Rules. 12 discloses relate to customer disputes. In those situations, customers prevailed on claims against Pruco for sales practice violations such as unauthorized trading, negligence and unsuitable sales practices. Pruco Securities has even indicated that its own securities brokers have violated regulatory rules, or engaged in conduct that may have harmed investors. Take a look at some of the brokers Pruco Securities terminated:
Pruco Terminates Michael Pineda
Michael Rodger Pineda (CRD#: 2337780, Denver, Colorado) started working at Pruco Securities, LLC on September 23, 2016. Pruco Securities discharged Michael Pineda on June 30, 2017. Namely, the firm based its decision to terminate Michael Pineda on him providing Pruco Securities, LLC forms for the purchase of an annuity that were not authentic. Michael Pineda allegedly submitted documents that contained non-genuine customer signatures and initials on the application. Apparently, person or someone else forged the customer’s signature. Even though Michael Pineda claims that the transactions were legitimate, the firm found otherwise. Michael Pineda became a Lifemark Securities Corp. broker on August 41, 2017.
Pruco’s Donna Guglielmi Discharged
Donna Guglielmi (CRD#: 2110408, Howard Beach, New York) became a Pruco Securities, LLC securities broker on December 12, 1990. She disclosed on her FINRA BrokerCheck Report that Pruco Securities, LLC discharged her on May 26, 2016. Principally, the firm claims that Donna Guglielmi did not take reasonable steps to prevent or put a stop to a Pruco Securities, LLC representative under her watch committing fraudulent activities. Pruco Securities LLC indicated that Donna Guglielmi’s lack of action contributed towards the fraudulent activities transpiring. Additionally, Pruco Securities, LLC claimed that Donna Guglielmi corresponded with unauthorized individuals when under an investigation for her oversight of the person committing fraud. On February 15, 2017, Donna Guglielmi commenced employment with NYLIfe Securities LLC.
Pruco Terminates Rajen Sheth
Rajen S. Sheth (CRD#: 2268896, Farmington Hills, Michigan) was a Pruco Securities LLC registered representative. Rajen Sheth’s FINRA BrokerCheck Profile shows that Rajen Sheth joined the firm on November 18, 1992. However, on April 28, 2017, Pruco Securities, LLC terminated her after alleging that she violated the firm’s policies and possibly FINRA Rules. Specifically, Pruco Securities, LLC claimed that Rajen Sheth made unauthorized investment transactions. Further, the firm claimed Rajen Sheth was affiliated with another entity while working at Pruco Securities, LLC, contrary to the firm’s directives. Finally, Pruco Securities, LLC stated that Rajen Sheth used unauthorized investment-related advertisements and failed to comply with management. Rajen Sheth joined Parkland Securities, LLC on April 4, 2017.
Has a Pruco Securities broker, LLC caused you harm? If you suffered losses by investing with Pruco Securities, LLC brokers Michael Rodger Pineda, Donna Guglielmi, or Rajen S. Sheth, call (888) 760-6552 for a free consultation with Soreide Law Group’s experienced counsel. Our firm has recovered millions of dollars for investors who have been victim to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.