The securities fraud attorneys at Meyer Wilson are currently investigating claims against former broker Brandon Gioffre (CRD# 2854741).
On June 23, 2016, the Financial Industry Regulatory Authority (FINRA) permanently barred former Constellation Wealth Advisors, LLC broker Brandon D. Gioffre (CRD# 2854741) “from acting as a broker or otherwise associating with firms that sell securities to the public”.
According to FINRA, Gioffre participated in private securities transactions without providing prior notice to his firm, therefore violating National Association of Securities Dealers (NASD) Conduct Rule 3040 and FINRA Rule 2010. He reportedly received $100,000 in commissions for selling around $2 million of securities to two customers. Both purchasers allegedly lost their entire investments.
Without admitting or denying the findings, Gioffre signed a Letter of Acceptance, Waiver and Consent consenting to FINRA’s sanctions on May 25, 2016.
Prior to being barred from acting as a broker, Gioffre was subject to two customer disputes in 2008 that came from the sale of an auction rate security (ARS) made before the widespread illiquidity in the ARS market that happened in February 2008. The disputes were settled for approximately $1.4 million.
Gioffre last worked for Constellation Wealth Advisors, based out of New York, NY, in 2015, when he was permitted to resign after it was alleged that he solicited a private placement that was neither offered by nor approved as an outside business activity or private securities transaction by his employing brokerage firm.
According to his publicly available BrokerCheck report, Gioffre was also discharged from a previous employer prior to joining Constellation Wealth Advisors. In 2014, Morgan Stanley permitted Gioffre to resign over allegations involving the violation of internal policies and procedures apparently unrelated to clients or investments.
He has one pending customer dispute alleging $881,657 in damages.
If you lost money investing with former Constellation Wealth Advisors broker Brandon Gioffre, contact the securities fraud attorneys at Meyer Wilson for a free case consultation to discuss your potential claim. We handle all of our cases on a contingency fee basis, which means that you won’t owe us any fees unless we recover money on your behalf.