Public records published by the Financial Industry Regulatory Authority (FINRA) on August 1, 2016 indicate that Florida-based Dawson James Financial broker Carlo Corzine is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Corzine (CRD# 1928723).
Carlo Corzine has spent 26 years in the securities industry and has been registered with Dawson James Securities in Boca Raton, Florida since 2012. Previous registrations include Hamershlag Sulzberger Borg Capital Markets in New York, New York; Buckman Buckman & Reid in Boca Raton, Florida; Newbridge Securities in Boca Raton, Florida; Sterling Financial Investment Group, which has since been expelled by FINRA, in Boca Raton, Florida; Round Hill Securities in Alamo, California; Northeast Securities in Mitchelfield, New York; PCM Securities in Green Acres, Florida; Southeast Research Partners in Melville, New York; Josephthal Lyon & Ross in New York, New York; JW Gant & Associates; and Shearson Lehman Hutton in New York, New York. He is a registered broker and investment adviser with 16 US states and territories: Arizona, California, Delaware, Florida, Georgia, Indiana, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia, and Washington.
According to his BrokerCheck report, Carlo Corzine has received one regulatory sanction, one customer complaint, and one pending customer complaint.
In June 2016, a customer alleged Carlo Corzine, while employed at Dawson James Securities, made unsuitable investment recommendations, charged excessive fees and commissions, concentrated investments, misrepresented and omitted material facts, breached his fiduciary duty, and executed unauthorized trades. The customer is seeking $60,000 in damages in the pending complaint.
In August 2015, a customer alleged Carlo Corzine, while employed at Buckman Buckman & Reid, misrepresented material facts related to an investment in Tactical Air Defenses. The complaint settled in January 2016 for $30,000.
In 2013, FINRA sanctioned Carlo Corzine following allegations he “participated in the sale into the public markets of more than 152 million unregistered shares of a thinly-traded over-the-counter security on behalf of his customers.” He was issued a 30-day suspension from the securities industry.
Concentration (or “over-concentration”) refers to a broker’s failure to diversify a customer’s portfolio among a variety of assets. Sometimes a broker believes one asset will outperform others, and focuses the investment in that asset or class. In other cases, a broker might invest primarily in a series of related investments; for instance, municipal bonds in the same region. Since similar classes often perform similarly, if one performs poorly, the others might as well. Brokers who fail to diversify their customers’ investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Carlo Corzine, 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, which means 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.