Broker Michael Venturino Supposedly Breached Fiduciary Duty, Churned Aegis Customer’s Account

Soreide Law Group wants to know if you sustained losses by investing with Michael Christopher Venturino (CRD#: 5872439, Garden City, New York). Venturino is a securities broker who joined Spartan Capital Securities in April 2018 and who also worked for Aegis Capital Corp (2014-2017) and Trident Partners Ltd. (2017-2018). Notably, FINRA BrokerCheck shows that 11 of Venturino’s clients filed disputes about his sales practices. Apparently, investors suggest in these disputes that Venturino sold unsuitable options, stock and private placement investments. He seemingly churned accounts and breached a fiduciary duty to his clients too. Here’s more:

Client Of Aegis And Spartan Suggested That Michael Venturino Was Churning Account

Most recently, FINRA BrokerCheck shows that a client of Aegis Capital Corp and Spartan Capital Securities brought a FINRA Arbitration Claim #: 20-01455 about Michael Venturino. Particularly, the client suggested in this May 8, 2020 lawsuit that Venturino breached a fiduciary duty and was negligent, placing his interests ahead of the client on securities transactions from 2015 to 2020. It seems that Venturino invested the client in unreasonable, unsuitable investments in breach of contract. Moreover, the client indicated that Venturino churned the client’s account, trading primarily to generate commissions from the client. For this reason, the client demanded $985,000 in damages. Apparently, this matter is ongoing.

Aegis Capital Corp Client Disputes Venturino’s Allegedly Unsuitable Sales

Evidently, on February 7, 2020, Aegis Capital Corp received notice of FINRA Arbitration Claim #: 19-03834 in regard to Michael Venturino’s sales practices. It seems that Venturino did not consider the client’s suitability information when he recommended securities or made trades. Also, the client indicated that Venturino used high pressure sales tactics on the client. Evidently, for the losses sustained on Venturino’s purportedly unsuitable sales, the client seeks compensatory relief of $225,000 in this ongoing matter.

Michael Venturino Allegedly Makes Unsuitable Trades In Client’s Account

Moreover, FINRA Arbitration Claim #: 19-03005 dated December 26, 2019 concerns Michael Venturino’s sales practices. It seems that like the other clients who complained about Venturino, this client took issue with Venturino’s seemingly aggressive and improper sales practices. Apparently, the client’s allegations of $150,000 in damages concerns unsuitable securities transactions from 2013 to 2019. Currently, this matter is ongoing.

Aegis Client Indicates That Venturino Misrepresented Investments

Apparently, a client of Aegis Capital Corporation brought FINRA Arbitration #: 18-02048 to dispute Michael Venturino’s trading through 2018. Namely, the client suggested that Venturino excessively traded or churned the client’s accounts. In addition, Venturino purportedly misrepresented facts in connection with equities, options and private placements. It is possible that Venturino lied to the client or misled the client about unsuitable securities. Therefore, the client demanded $240,359.83 in relief in this unresolved legal matter.

Losses From Aegis Capital Corp Securities Broker Michael Venturino?

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Have you experienced losses by investing with Aegis Capital Corp securities broker Michael Venturino? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Venturino.