Fitapelli Kurta is investigating claims against broker-dealer firm, Scottsdale Capital Advisors and its brokers.
Scottsdale Capital Advisors is a broker-dealer firm registered with both the SEC and FINRA. Scottsdale Capital Advisors was formed in Arizona in 2001 and its main office is located at 7170 McDonald Rd. Suite 6, Scottsdale, AZ 85253. Scottsdale Capital Advisors has offices in all fifty states.
Scottsdale Capital Advisors and its brokers have been the subject of numerous investor complaints as of late. For example, in September 2012, a Scottsdale Capital Advisors broker permitted his name to be used in promotion of certain stocks on press releases and websites. Additionally, the advertisements lead investors to believe these investments were being endorsed by the individual broker. Scottsdale Capital Advisors was fined $7,500 for this misconduct.
In 2010, Scottsdale Capital Advisors was fined $125,000 for failing to comply with its anti-money laundering procedures. Specifically, Scottsdale Capital Advisors identified several red flags potentially indicating money laundering, but failed to further investigate the circumstances and facts leading to those red flags. $18,000 of the $125,000 of fines was disgorgement from brokers who earned commissions on the sales of unregistered penny stocks. In addition to the lofty fine, Scottsdale Capital Advisors was also suspended from conducting business for 40 business days beginning on December 5, 2011 and ending on February 1, 2012.
In 2009, Scottsdale Capital Advisors was fined $7,500 for failing to buy bonds from customers at a fair and reasonable price. NASD (FINRA’s predecessor’s) ordered Scottsdale Capital Advisors to make full restitution to the aggrieved customers.
In August 2014, current Scottsdale Capital Advisors broker, Timothy B. Diblasi reached a settlement with Bank of America on an outstanding loan, in order to avoid bankruptcy. Timothy B. Diblasi has been a broker at Scottsdale Capital Advisors since 2012.
In September 2014, FINRA launched an investigation against current Scottsdale Capital Advisors broker, John J. Hurry. According to John J. Hurry’s BrokerCheck Report, FINRA made a preliminary determination to recommend disciplinary action be brought against John J. Hurry for potential violations of FINRA Rule 2010 and for aiding and abetting violations of Section 5 of the Securities Act of 1933.
If you or someone you know has lost money investing with Scottsdale Capital Advisors, John J. Hurry, Timothy B. Diblasi, or any other Scottsdale Capital Advisors’ brokers, you may be entitled to full recovery of your losses. The law offers investors, like yourself, a course of recovery by way of arbitration through the Financial Industry Regulatory Authority (FINRA)
Based in New York City, the securities fraud law firm Fitapelli Kurta has extensive experience representing investors in FINRA arbitration cases. Our firm sues broker-dealer firms who have failed to properly supervise their brokers, or who have allowed their brokers to make unsuitable investment recommendations.
All of our cases are taken on a contingency fee basis which means we do not recover any money unless you win your case. Call now to speak directly to an attorney. We would love to further discuss the merits of your case and our consultations are always free. Time is of the essence in filing a claim to recover losses with FINRA, so do not wait. Call 212-658-1502 now for your free consultation.