Former Broker Giovanni L. Acevedo Banned by FINRA
On April 8, 2015, the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) initiated disciplinary proceedings against Giovanni L. Acevedo (CRD# 2508321). On January 15, 2016, Acevedo submitted an Offer of Settlement which FINRA accepted.
Our securities fraud attorneys at Meyer Wilson began investigating claims against Acevedo, who was formerly a broker for Voya / ING Financial. According to the allegations against him, FINRA received a complaint in September 2014 accusing Acevedo of fraudulently taking $5,000 from a customer without the customer’s consent. Another complaint was made earlier in 2014 claiming that Acevedo allegedly provided negligent investment advice, manipulated accounts, and converted funds for his own benefit. ING settled, without admitting or denying the claim, for $220,000.
FINRA alleges that between January 2009 and March 2014, Acevedo allegedly converted over $160,000 from three people to use for his own personal expenses. He also allegedly failed to comply with requests by FINRA during the investigation to provide accurate information regarding the funds.
As part of the Offer of Settlement, Acevedo, without admitting or denying the allegations, agreed to a permanent bar from the securities industry.
If you lost money after investing with former Voya / ING Financial broker Giovanni L. Acevedo, contact our securities fraud lawyers at Meyer Wilson. We encourage you to schedule your free consultation so you can learn more about your potential options.