Advisor Alert: Our Attorneys Are Investigating Michael John Giovannelli For Investment Fraud
Did You Lose Money Because of Michael Giovannelli?
Filed: January 16, 2024
Michael Giovannelli (also known as Michael Anthony) currently has one (1) pending customer complaint. Overall, he has been the subject of one (1) regulatory event, two (2) criminal events, four (4) customer complaints, and one (1) termination event. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Michael John Giovannelli.
Who Is Michael John Giovannelli?
- Advisor Name: Michael John Giovannelli
- Aliases: Michael Anthony, Michael Anthony Giovannelli
- CRD: 4989449
- Location: Garden City, New York
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Spartan Capital Securities, LLC, Richard James & Associates, Inc., and Salomon Whitney Financial
- Number of Known Customer Complaints: 4
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Number of Known Criminal Events: 2
- Can Michael Giovannelli Be Sued: Yes, in Private Arbitration
- Can Michael Giovannelli’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $97,292.27
- Highest Settlement: $97,292.27
If you have suffered investment losses by Michael Giovannelli, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Michael Giovannelli For Broker Misconduct
As of this publication date, Michael Giovannelli has been the subject of 1 regulatory event, 4 customer disputes, 2 criminal events, and 1 termination event. Let’s review them below.
In April 2022, a complaint was filed against or in reference to Michael Giovannelli by a customer of Richard James & Associates, Inc. alleging churning for commissions and quantitative unsuitability, unauthorized transactions, qualitative and quantitative unsuitability, failure to supervise and negligent supervision, control person liability; breach of fiduciary contract and implied covenant of good faith and fair dealing; negligent misrepresentation and omissions; standards of commercial honor and principles of trade. Per the customer, he/she lost over $20,609.34 because of Mr. Giovannelli’s actions. As of this publication date, this complaint remains pending.
In June 2021, FINRA initiated a regulatory action against or in reference to Michael Giovannelli for allegedly making unauthorized transactions in the account of a senior customer.
In July 2020, Spartan Capital Securities, LLC terminated Michael Giovannelli for unauthorized trading.
In April 2020, a FINRA arbitration was filed against or in reference to Michael Giovannelli by a customer of SW Financial alleging churning, excessive commissions, unsuitable trading, over-concentration, fraud, and negligence. Per the customer, he/she lost over $97,292.27 because of Mr. Giovannelli’s actions. An arbitration panel found that Giovannelli was negligent and awarded $97,292.27 in favor of the customers.
In November 2017, a FINRA arbitration was filed against or in reference to Michael Giovannelli by a customer of Salomon Whitney Financial alleging unauthorized trading and churning. Per the customer, he/she lost over $15,000 because of Mr. Giovannelli’s actions. On November 2, 2017, Mr. Giovannelli settled the claim for $5,000, and some or all of this amount may have been paid by Mr. Giovannelli’s employer and/or insurance carrier.
In July 2015, a complaint was filed against or in reference to Michael Giovannelli by a customer of Woodstock Financial Group alleging misrepresentation, misleading the client to believe stock was straight purchase instead of on margin, and implied or guaranteed return of investment. Per the customer, he/she lost over $55,000 because of Mr. Giovannelli’s actions.
In July 2010, misdemeanor charges were pressed against Mr. Giovannelli in the District Court of Nassau County – Hempstead for making a punishable false written statement.
In January 2009, felony charges were pressed against Mr. Giovannelli in the County Court of the State of New York, Nassau County. Mr. Giovannelli received 1 felony charge for possession of a controlled substance.
How To File A Claim Against Michael Giovannelli (previously with Spartan Capital Securities, LLC, Richard James & Associates, Inc., and Salomon Whitney Financial) To Get Your Money Back
If you have questions about Michael Giovannelli, Spartan Capital Securities, LLC, Richard James & Associates, Inc., Salomon Whitney Financial, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.