Published on:

John Valliades Has Seven Customer Complaints

John ValliadesNew York-based Petersen Investments broker John Valliades is the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Valliades (CRD# 726555).

John Valliades has spent 34 years in the securities industry and has been registered with Petersen Investments in New York, since 1998. Previous registrations include Gruntal & Company in New York, New York; Wayne Grayson Capital, which has since been expelled by FINRA, in Red Bank, New Jersey; Smith Barney in New York, New York; Lehman Brothers in New York, New York; Smith Barney Harris Upham & Company in New York, New York; and Dean Witter Reynolds. He is a registered broker with twelve US states: Arkansas, California, Connecticut, Florida, Indiana, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Virginia.

According to his BrokerCheck report, John Valliades is the subject of seven customer complaints and one pending customer complaint.

  • In 2014 a customer alleged John Valliades, while employed at Petersen Investments, churned a customer’s account, made unsuitable recommendations, committed fraud, and failed to supervise. The customer is seeking $400,000 in damages in the pending complaint.
  • In 2012 a customer alleged John Valliades, while registered at Petersen Investments, “used hard sales tactics” in relation to an options purchase which he “improperly described” as “safe” and “risk-free.” The complaint settled in 2013 for $23,600, to which Mr. Valliades individually contributed $11,800.
  • In 2000 a customer alleged John Valliades, while employed at Gruntal & Company, engaged in churning, executed unsuitable trades, and over-concentrated the account in “speculative options strategies.” The complaint settled in 202 for $7,500, to which Mr. Valliades individually contributed $7,500.
  • In 1996 a customer alleged John Valliades, while registered at Smith Barney, made unsuitable recommendations, churned the account, and engaged in unauthorized trading. The complaint settled in 1998 for $30,000, to which Mr. Valliades individually contributed $8,000.
  • In 1994 a customer alleged John Valliades executed unauthorized, unsuitable, and excessive trades. The complaint settled in 1995 for $92,500.
  • In 1992 a customer alleged John Valliades misrepresented material facts, executed excessive trades, and made unsuitable recommendations. The complaint settled in 1992 for $250,000.
  • In 1991 a customer alleged John Valliades misrepresented material facts, executed excessive trades, and made unsuitable recommendations. The complaint settled in 1992 for $250,000.

If you have lost money investing with John Valliades, you may be able 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: Fitapelli Kurta only gets paid if and when you collect funds.  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.

This information provided to the public by FINRA on April 4, 2015.