Publicly available records provided by the US Department of Justice on May 3, 2016 indicate that former Florida-based Newbridge Securities broker Gerald Cocuzzo has been indicted in an alleged “market manipulation scheme.” The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Patel (CRD# 4047511).
Gerald Cocuzzo has spent 16 years in the securities industry and was most recently registered with Newbridge Securities Corporation in Boca Raton, Florida (2014-2016). Previous registrations include IAA Financial in Boca Raton, Florida; Gunnallen Financial in Boca Raton, Florida; America’s Choice Equities in Hauppage, New York; JP Turner & Company in Medford, New York; LH Ross & Company in Boca Raton, Florida; Continental Broker-Dealer in Carle Place, New York; Gunnallen Financial in Tampa, Florida; and Seaboard Securities in Florham Park, New Jersey. Of Mr. Cocuzzo’s former employers, three have since been expelled by FINRA: LH Ross & Company, Continental Broker-Dealer, and Seaboard Securities. He is currently not registered with any state or firm.
According to the Department of Justice, Gerald Cocuzzo has been indicted with eight other individuals, including four other registered brokers, on charges that include securities fraud, wire fraud, money laundering, and making a false statement to law enforcement officers. The charges relate to an alleged manipulation of ForceField Energy, Inc. (NASDAQ: FNRG). Officials allege that a ForceField executive hired another individual to distribute kickbacks to Mr. Cocuzzo and other registered brokers, “in exchange for purchasing ForceField stock in their clients’ brokerage accounts,” which they did not disclose to their clients. The investing public allegedly suffered a total loss of about $131 million.
Mr. Cocuzzo and his co-defendants allegedly artificially controlled the price and volume of FNRG’s traded shares through three means: “(1) using nominees to purchase and sell ForceField stock without disclosing this information to investors and potential investors; (2) orchestrating the trading of ForceField stock to create the appearance of genuine trading volume and interest in the stock; and (3) concealing payments to stock promoters and broker dealers who promoted and sold ForceField stock to investors and potential investors while claiming to be independent of the company.”
The charges—which are merely allegations on the part of the US Justice Department, as the defendants are innocent until proven guilty—remain pending.
If you or someone you know has lost money investing with Gerald Cocuzzo or in Forcefield Energy, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.