How To Recover Money Losses With Alexander Capital

According to the Securities and Exchange Commission (SEC), three Alexander Capital brokers were charged with making unsuitable recommendations in order to earn large commissions. These recommendations allegedly resulted in substantial losses to their customers. The brokers are William Gennity, Rocco Roveccio and Laurence Torres. Gennity and Roveccio allegedly both recommended investments that involved frequent buying and selling of securities. They had no reasonable basis to profit their customers. They were also accused of churning customer accounts, engaging in unauthorized trading, and concealing material information from their customers. Customers were also reportedly not told that the transaction costs associated with their recommendations like commissions, markups, markdowns, postage, fees and margin interest would almost outstrip any potential monetary gains the accounts. Customer losses totaled $683,000 and Gennity and Roveccio received $280,000 and $206,000, respectively. Torres was accused of having no reasonable basis to believe it was suitable to recommend a high-cost pattern of frequent trading that gave his customers virtually no chance of making a minimal profit. He was also accused of engaging in churning and making unauthorized trades. These are all against securities laws. Please call our law firm today at 312–332–4200. We are based in Chicago and Barrington, Illinois and take cases on a contingency fee basis only. The call is free with no obligation. Attorneys are standing by.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.