Advisor Alert: Our Attorneys Are Investigating Troy Allen Orlando For Investment Fraud
Did You Lose Money Because of Troy Orlando?
Filed: January 16, 2024
Troy Allen Orlando (also known as Troy Allen and Allen Orlando) currently has one (1) pending judgment/lien event. Overall, he has been the subject of two (2) regulatory events, two (2) customer complaints, one (1) financial event, and one (1) judgment/lien 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 Troy Allen Orlando.
Who Is Troy Allen Orlando?
- Advisor Name: Troy Allen Orlando
- Aliases: Troy Allen, Troy A. Orlando, Allen Orlando
- CRD: 6055474
- Location: New York, New York
- Current Employer: Currently Not Registered
- Previous Firms: Craft Capital Management LLC, Joseph Gunnar & Co. LLC, and Joseph Stone Capital L.L.C
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 2
- Number of Known Judgment/Lien Events: 1
- Number of Known Financial Events: 1
- Can Troy Orlando Be Sued: Yes, in Private Arbitration
- Can Troy Orlando’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $51,650
- Highest Settlement: $17,587
If you have suffered investment losses by Troy Orlando, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty 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 Troy Orlando For Broker Misconduct
As of this publication date, Troy Orlando has been the subject of 1 judgment/lien event, 1 financial event, 2 regulatory events, and 2 customer disputes. Let’s review them below.
In November 2023, FINRA initiated a regulatory event against or in reference to Troy Orlando. Without admitting or denying the findings, Orlando consented to the sanctions and to the entry of findings that he willfully violated the Best Interest Obligation under Rule 15/-1 of the Securities Exchange Act of 1934 (Regulation BI) by recommending a series of trades in customer accounts that were excessive, unsuitable, and not in the customers’ best interest. The findings stated that Orlando recommended high frequency trading in the customers’ accounts. The customers relied on Orlando advice and routinely followed his recommendations and, as a result, Orlando exercised de facto control over the customers’ accounts. Orlando’s trading in the customers’ accounts, some of whom were seniors, resulted in total trading costs of $231,798, including $164,897 in commissions, and caused $198,450 in realized losses. The restitution imposed is equal to commissions paid by two customers. The other customers have previously obtained an arbitration award against Orlando’s member firm related to his trading.
In November 2023, FINRA initiated a regulatory event against or in reference to Troy Orlando for recommending a series of trades in five customers’ accounts that were excessive, unsuitable, and not in the customers· best interest. By this conduct, Respondent willfully violated the Best Interest Obligation under Rule 15/-1 of the Securities Exchange Act of 1934 (Regulation BI) (for the period June 30, 2020, through November 2020) and violated FINRA Rule 2111 (for the period January 2018 through June 29, 2020) and FINRA Rule 2010.
In January 2022, Mr. Orlando filed for bankruptcy at The Federal Court for Southern District of New York.
In October 2021, Troy Orlando was the subject of a civil judgment or lien in the amount of $7,568. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In December 2019, a FINRA arbitration was filed against or in reference to Troy Orlando by a customer of Spartan Capital Securities, LLC alleging negligence, unsuitability, breach of fiduciary duty, breach of contract, negligent misrepresentation and omission. Per the customer, he/she lost over $51,650 because of Mr. Orlando’s actions. On April 28, 2020, Mr. Orlando settled the claim for $1,000, and some or all of this amount may have been paid by Mr. Orlando’s employer and/or insurance carrier.
In July 2019, a FINRA arbitration was filed against or in reference to Troy Orlando by a customer of Spartan Capital Securities, LLC alleging unauthorized trades and use of margin. Per the customer, he/she lost over $40,002.10 because of Mr. Orlando’s actions. On November 18, 2019, Mr. Orlando settled the claim for $17,587, and some or all of this amount may have been paid by Mr. Orlando’s employer and/or insurance carrier.
How To File A Claim Against Troy Orlando (previously with Craft Capital Management LLC, Joseph Gunnar & Co. LLC, and Joseph Stone Capital L.L.C) To Get Your Money Back.
If you have questions about Troy Orlando, Craft Capital Management LLC, Joseph Gunnar & Co. LLC, Joseph Stone Capital L.L.C, 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.