What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: July 15, 2015

Stoltmann Law Offices is investigating Valentino Infante, who is accused of participating in unapproved outside business activities by twice soliciting a customer of his firm, Wells Fargo, to provide funding for his limited liability company, IMonsters Machinery. Infante told the customer that the tractors resold by his company would garner a profit. Instead, according to his Financial Industry Regulatory Authority (FINRA) disciplinary proceeding, Infante received compensation from the transactions. Infante also failed to inform Wells Fargo of his involvement with IMonsters, as he was the sole proprietor of the company. He also allegedly lied on questionnaires sent out by his firm regarding his involvement in IMonsters, or any other outside business activity. Infante was fired from Wells Fargo on July 24, 2013.

Outside business activity such as this is oftentimes called “selling away” and is when a broker solicits a firm client to invest in companies not approved by his or her member firm, and without the member firm’s knowledge. This is a violation of securities regulations. In Infante’s case, the customer he solicited, agreed to transfer $34,250 of his own money to purchase tractors to be resold at IMonsters, as well as wrote a check for $2,550 for transport of the machinery. The customer suffered a loss of $11,800 after the transaction was completed.

Mr. Infante was registered with Summit Brokerage Services in Boca Raton, Florida from November 2009 until February 2010, CBG Financial Group in West Palm Beach, Florida from January 2010 until April 2010, and Wells Fargo Advisors in Miami, Florida from June 2010 until August 2013. He has one customer dispute against him. He is not licensed to practice in the industry. If you lost money with Valentino Infante, you may be able to recover your investment losses by calling us at 312-332-4200. His former firm, Wells Fargo, can be held liable for his selling away actions. We sue firms such as Wells Fargo in the FINRA arbitration forum because of their failure to reasonably supervise their brokers, and take cases on a contingency fee basis. The call is free with no obligation.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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