John Borsellino – Financial Advisor/Broker John Borsellino Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
John Borsellino was a previously licensed financial advisor with Morgan Stanley. According to John Borsellino’s CRD, John Borsellino was suspended from the securities industry for three months and fined $5,000 in December 2019
According to FINRA Allegations:
John Borsellino consented to the sanctions and to the entry of findings that he recommended and then made unsuitable securities transactions in customers’ accounts. The findings stated that John Borsellino recommended that customers purchase municipal bonds and non-municipal securities in their brokerage accounts, which caused the customers to incur upfront sales charges. In each instance, John Borsellino transferred the security to the customer’s existing fee-based account shortly after purchasing it (generally within 90 days), and, in each instance, John Borsellino could have purchased the security in the fee-based account without any upfront sales charges. The upfront sales charges associated with the unsuitable purchases made in the customers’ brokerage accounts totaled approximately $58,000, all of which John Borsellino’s member firm has reimbursed to his customers. John Borsellino earned $23,931 in connection with the unsuitable recommendations. John Borsellino lacked a reasonable basis to believe that the recommended securities purchases made in the customers’ brokerage accounts were suitable because he failed to exercise reasonable diligence and failed to consider the costs associated with the transactions.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with John Borsellino 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 concerning John Borsellino’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 $180 million on behalf of victimized investors. If you lost money on investments with John Borsellino 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.
Some of the information in this blog post was obtained on 12/10/2019 directly from FINRA BrokerCheck, without any changes. Use of BrokerCheck data is subject to BrokerCheck’s Terms of Use. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.
John Borsellino, Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange, John Borsellino