Mark John Nuovo (Mark Nuovo) Formerly Licensed with Euro Pacific Capital, Inc., Barred from Securities Industry – Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses - Mark John Nuovo (Mark Nuovo) Formerly Licensed with Euro Pacific Capital, Inc., Barred from Securities Industry
From 2008 until Mark Nuovo’s resignation in 2012, Mark Nuovo was licensed with Euro Pacific Capital, Inc. According to FINRA’s records, Mark Nuovo resigned from Euro Pacific Capital, Inc. on January 17, 2012. Euro Pacific Capital, Inc. reported to FINRA that the firm was entirely unaware that Mark Nuovo was engaging in private securities transactions and outside business activities away from the firm resulting in the subject customer complaint. Euro Pacific Capital, Inc. reported that such activities were conducted by Mr. Nuovo in violation of the firm’s policies and procedures.
Subsequent to Mark Nuovo’s resignation from Euro Pacific Capital, Inc., FINRA investigated Mark Nuovo and brought a disciplinary action against Mark Nuovo. Mark Nuovo was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on September 18, 2013. FINRA reports that Mark Nuovo consented to the sanction and to the entry of findings that Mark Nuovo introduced people, including member firm customers, to a promoter who sold securities offered by a company that purportedly sold and serviced group medical insurance through membership organizations or other large groups. FINRA reports that individuals invested a total of $2.55 million in securities offered by the company and Mark Nuovo personally invested $75,000 in the securities. Mark Nuovo was paid approximately $107,500 for referring investors but did not disclose to potential investors that Mark Nuovo would receive compensation. Mark Nuovo personally misled many investors by suggesting that Mark Nuovo had personally invested between $300,000 and $1,000,000 and that the success of the company would allow him to retire early. Mark Nuovo also gave potential investors misleading materials created by the company that overstated its success, falsely projected the return of 100% of principal in 12 months, and falsely projected that the investment would provide an annual yield of 1,200%. (The SEC has filed a complaint in the U.S. District Court for the Northern District of Texas charging two company executives with fraud for operating a Ponzi scheme.)
FINRA reports that Mark Nuovo failed to disclose Mark Nuovo’s activities to Mark Nuovo’s firm and concealed Mark Nuovo’s activity by using Mark Nuovo’s personal email address and cell phone number to conduct company-related business. According to FINRA, Mark Nuovo also falsely stated that Mark Nuovo was not involved in any private securities transactions on compliance forms Mark Nuovo submitted to Mark Nuovo’s firm.
If you lost any money on investments with Mark Nuovo, you may be able to recover your losses from Euro Pacific Capital, Inc. This is because Euro Pacific Capital, Inc. had a duty to supervise Mark Nuovo.
If you lost money on investments with Mark Nuovo and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Euro Pacific Capital, Inc. concerning Mark Nuovo’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $170 million on behalf of victimized investors. If you lost money on investments with Mark Nuovo and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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