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Conn. Broker, Leon Vaccarelli Suspended and Fined

shutterstock_163376417The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Connecticut-based Investment Center broker/adviser Leon Vaccarelli (CRD# 3227636).

Leon Vaccarelli has spent sixteen years in the securities industry and has been registered with the Investment Center in Waterbury, Connecticut since 2011. Previous registrations include QA3 Investment Corporation in Waterbury, Connecticut (2007-2011); Ameriprise Financial Services in Middlebury, Connecticut (1999-2007); and IDS Life Insurance Company in Minneapolis, Minnesota (1999-2006). He is a registered broker and investment adviser in seven US states: Connecticut, Florida, Massachusetts, New Hampshire, New York, North Carolina, and South Carolina.

According to records provided by the Financial Industry Regulatory Authority (FINRA), Leon Vaccarelli has signed a letter of Acceptance, Waiver, and Consent (No. 2014042302001) settling allegations of misconduct.

From 2011-2015, according to FINRA’s complaint, Leon Vaccarelli exercised discretion in four customers’ accounts. However, in violation of NASD Conduct Rule 2510(b), he did so without written authorization from the customers in question. Additionally, his member firm, the Investment Center, did not approve or accept the accounts as discretionary. Mr. Vaccarelli has consented to a fine of $7,500 and a one-month suspension from associating with any FINRA member firm.

According to his BrokerCheck report, Leon Vaccarelli is the subject of two other denied customer complaints.

In 2010 a customer alleged Leon Vaccarelli, while employed at Ameriprise Financial Services, misrepresented material facts related to a real estate investment trust (REIT). The customer sought $25,000 in damages in the complaint, which was denied.

In 2003 a customer alleged Leon Vaccarelli, while employed at Ameriprise Financial Services, inappropriately managed her annuity. The customer sought $7,800 in damages in the complaint, which was denied.

If you have lost money investing with Leon Vaccarelli, you may be able to collect a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you receive money. By law there is a limited window to file claims, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.