Paul Rampoldi – Financial Advisor Paul Rampoldi Charged by SEC with Participating in an Insider Trading Scheme | Goodman & Nekvasil P.A, May Recover Investor Losses
Paul Rampoldi CRD #2183491
Paul Rampoldi has been licensed with First Allied Securities, Inc. and National Planning Corporation. Paul Rampoldi was charged by the SEC with participating in an insider trading scheme to profit in advance of two major announcements out of a pharmaceutical company. FINRA reports that the SEC alleges that Paul Rampoldi coordinated the insider trading with two other brokers at Paul Rampoldi’s firm, as well as a then IT executive at the California based biotechnology company that involved the insider trading securities. FINRA reports that the SEC alleges that an employee at the biotechnology company tipped one of the brokers ahead of the company’s announcement of an agreement to license a cancer drug, and later tipped him in advance of its acquisition.
FINRA reports that, according to the SEC’s complaint, Paul Rampoldi and one of Paul Rampoldi’s customers, who also happened to be a close friend of Paul Rampoldi, made approximately $90,000 in illicit profits by trading ahead of those announcements based on nonpublic information that flowed to them through one of the fellow brokers who learned it from the other after he was tipped by the IT executive. According to FINRA, the SEC alleges that it was decided that in order to evade detection by the compliance department at the brokerage firm where Paul Rampoldi and the others worked, Paul Rampoldi’s customer would fund the purchase of the securities call option contracts in a brokerage account he held at a different brokerage firm, and they would subsequently divide the profits among them. FINRA reports that the SEC’s complaint charges Paul Rampoldi with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. FINRA reports that the SEC seeks permanent injunctions as well as disgorgement, prejudgment interest, and civil penalties.
FINRA also reports that criminal charges against Paul Rampoldi relating to conspiracy and/or securities fraud are presently pending.
If you lost any money on investments with Paul Rampoldi you may be able to recover your losses from First Allied Securities, Inc. and/or National Planning Corporation. This is because First Allied Securities, Inc. and National Planning Corporation Incorporated had a duty to supervise Paul Rampoldi.
If you lost money on investments with Paul Rampoldi and believe that 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 First Allied Securities, Inc. and/or National Planning Corporation concerning Paul Rampoldi’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. If you lost money on investments with Paul Rampoldi 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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