Were You a Victim of Former Arive Capital Markets Broker John Santariello
Posted on Tuesday, November 5th, 2019 at 12:07 pm
Erez Law is currently investigating former Arive Capital Markets broker John Santariello (CRD# 5746158) regarding stock losses. Santariello was registered with Arive Capital Markets in Coram, New York from 2016 to 2018. Previously, Santariello was registered with the following brokerage firms:
- Cape Securities Inc. in Lake Grove, New York (08/11/2015 – 06/27/2016)
- Joseph Gunnar & Co. LLC in Melville, New York (07/08/2015 – 07/10/2015)
- Wilmington Capital Securities, LLC in Melville, New York (03/10/2014 – 05/26/2015)
- National Securities Corporation in Miller Place, New York (08/21/2013 – 02/12/2014)
- K.C. Ward Financial in Ronkonkoma, New York (03/12/2010 – 05/30/2013)
Santariello has been the subject of two customer complaints between 2014 and 2019, according to his CRD report:
August 2019. “Churning, Excessive Trading, Unsuitability.” The customer is seeking $307,042 in damages and the case is currently pending. This case is regarding common and preferred stocks and took place while Santariello was registered with Arive Capital Markets.
November 2014. “Account losses covering period 2012 through may 2014, due to unsuitable excessive trading of high-risk speculative stocks.” The customer sought $100,000 in damages and the case was settled for $30,000. This case was regarding equity OTC and options and took place while Santariello was registered with K.C. Ward Financial.
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, Arive Capital Markets may be liable for investment or other losses suffered by Santariello’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.Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.