Barred Broker: Former Meyers Associates, L.P. Broker Anthony Mastroianni Jr.
Posted on Tuesday, May 23rd, 2017 at 3:40 pm
Erez Law is currently investigating former Meyers Associates, L.P. broker Anthony Mastroianni Jr. (CRD# 2151249) regarding excessive trading and churning in customer accounts. Mastroianni was registered with Meyers Associates, L.P. in New York, New York from 2013 to 2016.
In December 2016, FINRA barred Mastroianni from acting as a broker or otherwise associating with firms that sell securities to the public. According to the Acceptance, Waiver & Consent, “Mastroianni consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony related to allegations that he engaged in excessive trading or churning in an elderly customer’s account maintained at his former member firms, and borrowed funds totaling $90,000 from that customer and an additional customer in four transactions, without notifying his firms or obtaining their approval.”
Mastroianni has also been the subject of seven customer complaints, four of which were denied, between 2007 and 2020, according to his CRD report:
May 2018. “Anthony Mastroianni, Jr. was named in a customer complaint that asserted the following causes of action: common law fraud; breach of fiduciary duty; negligence (gross negligence); breach of contract; unsuitability; overconcentration; and negligent supervision.” The case was settled for 250,000 in damages in June 2020.
July 2016. “allegations are unsuitable investment, breach of fiduciary duty, breach of contract, churning and outstanding loans from customer.” The customer sought $2,000,000 in damages and the case was settled for $540,000.
July 2015. “Churning and mishandling of account.” The customer is seeking $60,000 in damages.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, FIRM may be liable for investment or other losses suffered by Mastroianni’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.