Were you the victim of Money Concepts Capital Corp. broker Christopher Passero (CRD# 2517681)? Passero has been registered with Money Concepts Capital Corp. in Hurricane, West Virginia since 1998.
Passero has been the subject of four customer complaints between 2010 and 2021, one of which was denied and one was closed without action, according to his CRD report:
- February 2021. “Claimants are alleging the GPB offering was an unsuitable investment. The allege Violations of Federal Securities Laws and West Virginia Securities Act, Breach of Contract, Common Law Fraud, Breach of Fiduciary Duty, Negligence.” The customer is seeking $150,000 in damages and the case is currently pending. The complaint was regarding direct investments.
- March 2020. “Plaintiffs are alleging negligence, gross negligence, breach of fiduciary duty, fraud, civil conspiracy, misrepresentation/non-disclosure, omission of facts and unsuitable investments. They allege their goal was to protect and grow their savings through retirements and distribute their earnings and savings on a monthly basis for Plantiffs to live.” The case is currently pending. The complaint was regarding non-traded real estate investment trusts (REITs).
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, Money Concepts Capital Corp. may be liable for investment or other losses suffered by Passero’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.