Advisor Alert: Our Attorneys Are Investigating Patrick A Perugino For Investment Fraud
Did You Lose Money Because of Patrick Perugino?
Filed: January 16, 2024
Patrick Perugino (also known as Pat Perugino) has been the subject of one (1) regulatory event, one (1) termination event, and two (2) customer complaints. 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 Patrick Perugino.
Who Is Patrick A Perugino of Craft Capital Management LLC?
- Advisor Name: Patrick A Perugino
- Aliases: Pat Perugino, Patrick Anthony Perugino II, Patrick Perugino
- CRD: 6363411
- Location: Garden City, New York
- Current Employer: Craft Capital Management LLC
- Previous Firms: Spartan Capital Securities, LLC, Allied Millennial Partners, LLC, and David Lerner Associates, Inc.
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Can Patrick Perugino Be Sued: Yes, in Private Arbitration
- Can Patrick Perugino’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $50,000
- Highest Settlement: $6,427.27
If you have suffered investment losses by Patrick Perugino, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker 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 Patrick Perugino For Broker Misconduct
As of this publication date, Patrick Perugino has been the subject of 1 regulatory event, 1 termination event, and 2 customer disputes. Let’s review them below.
In December 2022, FINRA initiated a regulatory event against or in reference to Patrick Perugino. Without admitting or denying the findings, Perugino consented to the sanctions and to the entry of findings that he exercised discretion in customer accounts to effect trades without prior written authorization from the customers and without his member firms having accepted the accounts as discretionary in writing. The findings stated that for one of the customers, Perugino exercised discretion in placing a trade in the customer’s account while Perugino was associated with one of his firms. With respect to the other customers, Perugino engaged in discretionary trading by placing numerous trades in their accounts while these accounts were at his other firms. Although one of the firm’s WSPs permitted discretionary accounts, Perugino did not follow the firm’s procedures to obtain written authorization from the customers or seek approval from the firm to maintain any discretionary accounts at the firm. Instead, Perugino failed to disclose the discretionary trading, incorrectly marking on two firm annual attestations that he did not handle any customer accounts on a discretionary basis.
In July 2020, a FINRA arbitration was filed against or in reference to Patrick Perugino by a customer of David Lerner Associates, Inc. alleging that on July 18, 2017, two unauthorized trades were executed in the client’s account. Per the customer, he lost over $16,868.25 because of Mr. Perugino’s actions. An arbitration panel found that Perugino was negligent and awarded $6,427.27 in favor of the customers.
In April 2020, a NASD arbitration was filed against or in reference to Patrick Perugino by a customer of Spartan Capital Securities, LLC alleging that the client sent in an email to the SEC investor portal claiming illegal or fraudulent activity on accounts, could not contact the broker but was missing money on summary statements. The customer alleged, “We are missing over fifty thousand dollars out of our accounts,” and said it included her, her husband, and his mother’s money. Per the customer, she lost over $50,000 because of Mr. Perugino’s actions.
In November 2017, David Lerner Associates, Inc. terminated Patrick Perugino because of unauthorized trading.
How To File A Claim Against Patrick Perugino of Craft Capital Management LLC (previously with Spartan Capital Securities, LLC, Allied Millennial Partners, LLC, and David Lerner Associates, Inc.) To Get Your Money Back.
If you have questions about Patrick Perugino, Craft Capital Management LLC, Spartan Capital Securities, LLC, Allied Millennial Partners, LLC, David Lerner Associates, Inc., 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.