Stoltmann Law Offices is investigating Patrick Teutonico, who was accused of churning, making unsuitable recommendations, negligent supervision, making excessive markups/markdowns, breach of fiduciary duty, unauthorized short trading and effecting unauthorized transactions as first trades in newly opened customer accounts, among other securities violations. Churning is excessive trading by a broker in a client’s account largely to generate commissions for himself. It often results in substantial losses in the client’s account, and may generate a tax liability for the client.
According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Teutonico was registered with W.J. Nolan & Co., Ryan, Beck & Co., Gruntal & Co., National Securities Corporation, Gunnallen Financial, First Midwest Securities, A&F Financial Securities, QA3 Financial Corp and Obsidian Financial Group. He is currently registered with Network 1 Financial Securities in Lynbrook, New York and has been since December 2012. He has nine customer disputes against him, six of which are currently pending. He has one criminal disposition against him. If you lost money with Patrick Teutonico, please call our securities law firm in Chicago to find out how you can sue his firm, Network 1 Financial for losses. The call is free and attorneys are standing by.
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