Stoltmann Law Offices is investigating Giustino Destefano, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Destefano was formerly a registered broker with Merrill Lynch from October 2009 through May 2014. According to his AWC, Destefano allegedly exercised discretion in four customer accounts and executed trades without written authorization, in violation of securities rules and regulations. This was between July 2013 and May 2014. During this same period, Destefano allegedly mismarked over 100 order tickets as unsolicited trades, when, in fact, the trades were solicited. For this, he was suspended from the industry for three months and fined $10,000.
According to his online FINRA BrokerCheck report, Destefano was registered with Morgan Stanley in Philadelphia, Pennsylvania from May 2005 until June 2006, Wachovia Securities in Philadelphia from August 2006 until November 2008, Banc of America Investment Services in Philadelphia from November 2008 until October 2009, Merrill Lynch in Williamsville, New York from October 2009 until May 2014 and Securities America in Williamsville from May 2014 until February 2015. He has two customer disputes against him, one of which is currently pending.
Stoltmann Law Offices, located in Chicago, Illinois, represents investors who have lost money. We represent them in the FINRA arbitration process on a contingency fee basis. We sue firms such as Merrill Lynch for not properly supervising their representatives. Sometimes the firm can be held liable for investment losses because of this. Please call 312-332-4200 today. The call is free.
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