Broker Michael Fasciglione is Accused of Offering Unsuitable GPB Capital Holdings Investments
The Sonn Law Group is currently investigating claims involving Michael Fasciglione and GPB Capital Holdings. We represent investors nationwide. To get a free, fully confidential initial consultation, please contact us today or call 866–827–3202.
Michael Fasciglione (CRD#: 1806486) is a licensed securities broker. Since 2017, he has served as a representative for Aegis Capital Corp. Prior to that, Mr. Fasciglione was employed as a broker at National Securities Corporation in Nassau County, NY (2007–2017).
Since the beginning of 2017, five customers have filed complaints against Michael Fasciglione. In these complaints, investors allege that, among other things, Mr. Fasciglione sold them unsuitable GPB Capital Holdingsfinancial products.
Investor Complaints: Former National Securities Corporation Broker Michael Fasciglione
GPB Capital Holdings is the target of a large Ponzi scheme investigation. A previous business associate of the firm alleges GPB Capital has “falsified financial information” in order to stay afloat. Brokers and broker-dealers that sold GPB Capital private placements to investors may be liable for any resulting losses. Notably, several recent investor complaints have been filed against Michael Fasciglione:
● In May of 2017, an investor filed a claim alleging unsuitability. The case was settled for $135,000.
● In March of 2018, an investor brought a claim alleging material misrepresentations. The claim was settled for $15,000.
● In November of 2018, a customer filed a claim seeking $12,703 for unsuitable investment recommendations. It is still listed as pending.
● In December of 2018, a customer filed a complaint for unsuitability and breach of duty. The investor is seeking $467,000 and the claim is listed as pending.
The Sonn Law Group is investigating claims involving former National Securities Corporation broker Michael Fasciglione. We are committed to advocating for investor rights. To set up a free, no obligation review of your case, please contact our legal team today.