Former Westminster Financial Securities, Inc. Broker Louis Telerico Investment Loss Options


Were you the victim of former Westminster Financial Securities, Inc. broker Louis Telerico (CRD# 443875)? Telerico was registered with Westminster Financial Securities, Inc. in Dayton, Ohiofrom 2012 to 2016.

In June 2018, Telerico was suspended by FINRA for six months after he, “consented to the sanction and to the entry of findings that he willfully failed to disclose material information, via the filing of an amended Form U4, the filing of bankruptcy petitions by various companies he controlled, and three tax liens and three civil judgments filed or entered against him personally.”

Telerico has been the subject of 16 customer complaints between 1999 and 2019, three of which were closed without action and eight were denied, according to his CRD report. The most recent complaint is regarding:

June 2019. “The client alleges unsuitable investments, negligent hiring, failure to supervise, misrepresentations and omissions, and breach of purported settlement agreement.” The customer is seeking $468,249.17 in damages and the case is currently pending. The complaint took place while Telerico was registered with Westminster Financial Securities, Inc.

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, Westminster Financial Securities, Inc. may be liable for investment or other losses suffered by Telerico’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.

"*" indicates required fields

Please do not include any confidential or sensitive information in this form. Submitting this form does not create an attorney-client relationship.

Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.