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Raymond DeRobbio: Broker Has Six Complaints

shutterstock_120747304Public records provided by the Financial Industry Regulatory Authority (FINRA) on March 2, 2016 indicate that New Jersey-based Cantone broker Raymond DeRobbio is the subject of several customer complaints. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. DeRobbio (CRD# 1092310).

Raymond DeRobbio has spent 31 years in the securities industry and has been registered with Cantone Research Incorporated in Tinton Falls, New Jersey since 2013. Previous registrations include Northeastern Financial Group in Newton, Massachusetts (2012-2013); JP Turner & Company in Red Bank, New Jersey (2006-2012); Andrew Alexander Wise & Company in New York, New York (2003); Prime Capital Services in Poughkeepsie, New York (2002-2003); and ten other broker-dealer firms. Mr. DeRobbio is a registered broker with 16 US states: California, Connecticut, Florida, Georgia, Hawaii, Michigan, Montana, Nevada, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia, Washington, and Wisconsin.

According to his BrokerCheck report, Raymond DeRobbio is the subject of six customer complaints and one regulatory sanction.

  • In 2001 a customer filed a complaint against Raymond DeRobbio detailing unspecified allegations in connection to his conduct as an employee at Schneider Securities in Denver, Colorado. The complaint settled for $9,500.
  • In 2001 a customer alleged DeRobbio, while employed at Schneider Securities, misled them in connection to an investment in municipal bonds. The customer sought $25,000 in damages in the complaint, which was closed with no action.
  • In 1998 the state of Indiana sanctioned Raymond DeRobbio following unspecified allegations related to his conduct as a representative at Schneider Securities.
  • In 1991 a customer alleged Raymond DeRobbio, while employed at Advest, made unsuitable investment recommendations and omitted material facts relating to an investment. The complaint settled for $30,000.
  • In 1991 a customer alleged Raymond DeRobbio, while employed at Advest, breached his fiduciary duty, acted negligently, and recommended an unsuitable investment in municipal bonds. The complaint resulted in an award to the customer of $80,000.
  • In 1990 a customer alleged DeRobbio, while employed at Advest, misrepresented material facts related to an unsuitable investment and failed to exercise due diligence. The complaint settled for $36,150.
  • In 1990 a customer alleged Raymond DeRobbio, while employed at Advest, misrepresented material facts related to an investment in municipal bonds. The complaint settled for $75,000.

If you or someone you know has lost money investing with Raymond DeRobbio, 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 encourage  you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.