Securities Fraud Lawyer Blog
Frank Capuano suspended by FINRA
In May, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Frank Capuano of West Springfield, MA, formerly with Royal Alliance Associates, of Holyoke, MA was suspended from association with any FINRA member for twelve months and fined $10,000 as a result of his participation in a private offering of “note” securities of the Woodbridge Mortgage Investment Fund. FINRA’s investigation centered on Capuano’s role in Woodbridge Mortgage Investment Fund’s sale of securities. According to the findings, Capuano sold over $1,000,000 of the private notes to Royal Alliance customers and received over $30,000 in commissions. Capuano did not seek or obtain permission from Royal Alliance prior to offering the Woodbridge Mortgage Investment Fund notes to his customers., which is a violation of FINRA rules.
Registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Frank Capuano was registered with Royal Alliance from November, 1989 through July, 2015.
According to FINRA’s CRD disclosure report, Frank Capuano has been the subject of one regulatory investigation.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.