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Broker, Adam Sclafini: Suspension and Complaints

According to records provided by the Financial Industry Regulatory Authority (FINRA), former New York-based Rockwell Global Capital broker Adam Sclafani is currently not licensed to practice as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Sclafani (CRD# 2735036).

Adam Sclafani has spent fifteen years in the securities industry and was most recently registered with Rockwell Global Capital in Melville, New York (2015). Previous registrations include John Thomas Financial in New York, New York (2010-2013); EKN Financial Services in Farmingdale, New York (2010); SW Bach & Company in Port Washington, New York (2003-2005); Gunnallen Financial in Tampa, Florida (2002-2003); Milestone Financial Services in Bohemia, New York (2001-2002); Seaboard Securities in Florham Park, New Jersey (1999-2000; 2001); Harrison Securities in Port Washington, New York (2001); Whitehall Wellington Investments in Port Washington, New York (2000); First Liberty Investment Group in Philadelphia, Pennsylvania (1999); and DL Cromwell Investments in Boca Raton, Florida (1997-1999). He is currently not registered with any firm or state.

According to his BrokerCheck report, Adam Sclafini is the subject of five customer complaints and two regulatory sanctions.

In 2013 FINRA sanctioned Adam Sclafini, while he was employed at itradedirect.com, following allegations he engaged in excessive trades, opened accounts for customers who did not agree to such, opened new account documents containing inaccurate information, executed unauthorized trades, and used margin without authorization. Mr. Sclafini was issued a $10,000 fine and a 15-month suspension from the securities industry.

In 2013 a customer alleged Adam Sclafini, while employed at John Thomas Financial, breached his fiduciary duty, acted negligently, and executed unauthorized trades. The complaint settled for $7,500.

In 2011 a customer alleged Adam Sclafini, while employed at itradedirect.com, engaged in “a pattern of excessive trading.” The complaint resulted in an award to the customer of more than $60,300.

In 2010 the State of Vermont sanctioned Adam Sclafini, while he was employed at John Thomas Financial, following unspecified allegations. Mr. Sclafini was placed on heightened supervision in the state.

In 2009 a customer alleged Adam Sclafini, while employed at John Thomas Financial, executed unauthorized trades, irresponsibly used margin, and used markups and markdowns to conceal commissions. The complaint settled in 2012 for $30,000.

In 2007 a customer alleged Adam Sclafini, while employed at itradedirect.com, charged excessive commissions and executed unauthorized trades. The complaint settled for $8,000.

In 2007 a customer alleged Adam Sclafini, while employed at SW Bach & Company, breached his fiduciary duty, breached contract, made unsuitable investment recommendations, misrepresented and omitted material facts, churned the account, violated federal securities law, and engaged in unjust enrichment. The complaint settled in 2009 for $9,500.

If you or someone you know has lost money investing with Adam Sclafini, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourgae you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.