INVESTOR WARNING! Customer Complaints Brought Against Capital One Investing, Scott Allen Damico

Scott Allen Damico (CRD#: 6065781, Irving, Texas) is a prior Capital One Investing, LLC financial advisor. Evidently, Damico worked at the firm’s Irving, Texas offices from January 2, 2015 to November 3, 2016. According to Damico’s Financial Industry Regulatory Authority (FINRA) BrokerCheck Report, at least seven Capital One Investing, LLC customers have filed disputes about Damico’s sales practices. Customers’ claims, some of which are summarized below, together allege that Damico misrepresented information about the fees, returns and liquidity of investments.

January 28, 2019 Complaint Alleging Damico’s Outside Investment Transactions

 
A customer of Capital One Investing, LLC brought a complaint on January 28, 2018. Allegedly, Damico made recommendations for the customer to buy an investment which Capital One Investing, LLC did not offer. Supposedly, the customer purchased the investment based upon Damico’s representations of the product paying a certain rate of return. However, the investment did not perform as the customer expected. Because of this, the customer requested compensation for losses. However, Capital One Investing, LLC denied the customer’s claim on January 30, 2019.

January 19, 2017 Complaint Concerning Phony Investment Return Representations

 
A Capital One Investing, LLC customer filed a dispute about Damico on January 19, 2017. Mainly, the customer indicated that Damico placed the customer in an investment that was supposed to pay the customer three percent annual returns. Supposedly, Damico purchased the investment based on Damico’s false representations concerning the investment. Because of this, Capital One Investing, LLC agreed to pay the customer $24,598.47 in order to resolve the claim. Accordingly, this matter settled on March 13, 2017 without the firm’s admission of liability.

December 19, 2016 Complaint Alleging Damico’s Misrepresentations About Principal Protection

 
A customer of Capital One Investing, LLC disputed Damico’s sales practices in filing a December 19, 2016 complaint. Allegedly, Damico misrepresented the principal and interest rate the customer would receive by purchasing a managed account investment. Specifically, Damico claimed that the customer would receive principal protection and a fixed, three percent rate of return on the investment. However, the customer did not obtain the returns Damico told her she would receive. As a result, Capital One Investing, LLC paid the customer $22,207.04 to put her claim to rest.

November 18, 2016 Complaint Alleging Damico’s Misrepresentations About Fees, Liquidity

 
On November 18, 2016, another Capital One Investing, LLC customer filed a dispute alleging Damico’s misrepresentation of investments. First, the customer claimed that Damico made false statements to the customer about the rate of a return an investment would provide. Second, Damico allegedly misrepresented the fees which the customer would pay to invest. Third, the customer contended that Damico made baseless statements about the investment’s liquidity. All things considered, Capital One Investing, LLC opted to pay the customer $51,026.29 in compensation. Therefore, this matter settled January 23, 2017.

If you have experienced losses by investing with broker Scott Damico, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.