Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 14, 2016 indicate that New York-based Salomon Whitney Financial broker Douglas Leone is the subject of several customer complaints and a pending regulatory complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Leone (CRD# 2453784).
Douglas Leone has spent 22 years in the securities industry and has been registered with Salomon Whitney Financial in Farmingdale, New York since 2013. Previous registrations include Newport Coast Securities in New York, New York; Basic Investors in Hicksville, New York; Joseph Stevens & Company in Brooklyn, New York; Advanced Planning Securities in Smithtown, New York; Whitehall Wellington Investments in Port Washington, New York; Cambridge Capital, which has since been expelled by FINRA, in Garden City, New York; Foster Jeffries Securities in Westbury, New York; La Jolla Capital in San Diego, California; Renaissance Financial Securities; Gaines Berland in Bethpage, New York; and Gruntal & Company in New York, New York. He is a registered broker with fourteen US states and territories: California, Connecticut, Georgia, Indiana, Iowa, Maryland, Mississippi, Nevada, New York, North Carolina, Oklahoma, South Dakota, Texas, and Virginia.
According to his BrokerCheck report, Douglas Leone has received five customer complaints and one pending regulatory complaint.
In 2014, Douglas Leone was named respondent in a FINRA complaint in connection to his activities at Newport Coast Securities, following allegations he, “with his member firm and other firm representatives,” participated in excessive trading and account churning. The action remains pending.
In 2012, a customer alleged Douglas Leone, while employed at Newport Coast Securities, breached his fiduciary duty, acted negligently, and breached contract. The complaint settled in 2013 for $70,000.
In 2012, a customer alleged Douglas Leone, while employed at Newport Coast Securities, churned the account, misrepresented material facts, and breached his fiduciary duty. The complaint settled in 2013 for $9,999, to which Mr. Leone individually contributed $6,000.
In 2006, a customer alleged Douglas Leone, while employed at Joseph Stevens & Company, charged excessive commissions and made unsuitable recommendations. The complaint settled in 2006 for $21,000, to which Mr. Leone individually contributed $5,000.
In 2002, a customer alleged Douglas Leone, while employed at Advanced Planning Securities, executed unauthorized trades. The complaint settled for $4,218.
In 1999, a customer alleged Douglas Leone, while employed at Foster Jeffries Securities, engaged in fraud and deceit, misrepresented material facts related to an investment, breached contract, made unsuitable recommendations, and breached his fiduciary duty. The complaint settled the complaint settled in 2001 for $125,000, to which Mr. Leone individually contributed $60,000.
If you have lost money investing with Douglas Leone, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim might be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.