Richard Crescenzo Suspended by FINRA

In May, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Richard Crescenzo of Stony Brook, NY, formerly with Capital Securities Management of Melville, NY was suspended from association with any FINRA member for two years.  Crescenzo submitted to findings that he borrowed money from elderly customers, violations of firm and industry rules.  The findings further state that Crescenzo never informed his firm of the loans, and represented on his annual compliance questionnaire with the firm that he had not engaged in any loan transactions with customers.

Richard Crescenzo’s registration and disciplinary history

In order to lawfully sell investments to the public,  a registered rep must either be registered or exempt from registration.  Richard Crescenzo was registered with:

06/2015 – 11/2015
VANDERBILT SECURITIES, LLC
10/2012 – 06/2015
CAPITOL SECURITIES MANAGEMENT, INC.
12/2011 – 12/2012
CAPITOL SECURITIES & ASSOCIATES, INC.
08/2010 – 12/2011
AMERIPRISE FINANCIAL SERVICES, INC.

According to FINRA’s CRD disclosure report, Richard Crescenzo has been the subject of three customer complaints and 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.