Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 10, 2016 indicate that former Massachusetts-based Morgan Stanley broker Justin Amaral has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Amaral (CRD# 4440980).
Justin Amaral has spent 12 years in the securities industry and was most recently registered with Morgan Stanley in Boston, Massachusetts (2009-2014). Previous registrations include Citigroup Global Markets in Boston, Massachusetts (2007-2009) and Morgan Stanley DW in Boston, Massachusetts (2001-2007). He is currently not registered with any state or firm.
According to his BrokerCheck report, Justin Amaral is the subject of one regulatory sanction, two customer complaints, and one pending customer complaint.
In February 2016, a customer alleged that Justin Amaral, while employed at Morgan Stanley, breached his fiduciary duty with respect to investments in exchange-traded funds, closed-end funds, and mutual funds. The customer is seeking $750,000 in damages in the pending complaint.
In June 2015, FINRA sanctioned Justin Amaral following allegations that he failed to appear for requested on-the-record testimony during the course of an investigation. Mr. Amaral was permanently barred from the securities industry.
In 2014, a customer alleged that Justin Amaral, while employed at Morgan Stanley, breached contract, breached his fiduciary duty, violated the Massachusetts Uniform Securities Act as well as other state and federal statutes, committed common law fraud and deceit, and recommended unsuitable investments. The complaint resulted in an award to the customer of $1,074,777.30.
In 2014, Justin Amaral voluntarily resigned from Morgan Stanley following allegations concerning his “status as an executor and beneficiary in a client’s estate and his use of discretion in several client accounts.”
In 2014, a customer alleged that Justin Amaral, while employed at Morgan Stanley, misrepresented material facts and grossly mismanaged the account. The complaint settled in April 2016 for $313,500.
If you have suffered losses while investing with Justin Amaral, you may be entitled to 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: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.