David John Volpe, Formerly of LPL Financial, Named in Customer Dispute Alleging Conversion of Client Funds

INVESTORS: Former LPL Financial broker David John Volpe is facing a pending customer dispute alleging that he converted a client’s funds.

David John Volpe (CRD: 2543478) was registered as a broker with LPL Financial, Inc. from 2017 until 2018. Previously, Volpe was registered as a broker with National Planning Corporation from 2009 until 2017.

Volpe has five disclosures on his BrokerCheck report. One customer dispute filed against Volpe related to criminal charges from 1994.

August 2020 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges that between 2015 and April 2019, representative converted her funds by liquidating her accounts for his own personal use and by requesting claimant to write personal checks to him.

August 2019 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Volpe consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with an investigation into whether he engaged in a private securities transaction or borrowed funds from a customer.
• Resolutation: Acceptance, Waiver & Consent (AWC)
• Sanctions: Bar
• Registration Capacities Affected: All Capacities
• Duration: Indefinite
• Start Date: 8/2/2019

April 2019 Employment Separation After Allegations

• Firm Name: First Financial Equity Corporation
• Termination Type: Discharged
• Allegations: Failure to notify firm of private securities transaction involvement and violation of firm policy regarding borrowing funds from a client.

December 2019 Employment Separation After Allegations

• Firm Name: LPL Financial LLC
• Termination Type: Discharged
• Allegations: Violation of the Firm’s private securities transactions policy for involvement in capital-raising efforts without prior disclosure.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding David John Volpe. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.