Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ginny Colarusso (Colarusso), currently associated with the Jeffrey Matthews Financial Group, L.l.c., has at least one disclosable event. These events include one customer complaint, alleging that Colarusso recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $20,000,000.01 on November 22, 2024.
Client began investing in cryptocurrency in December 2022 and January 2023 in legitimate sites. At the end of January 2023 he told his rep to liquidate his accounts as he had been too conservative all these years. His rep was against this idea as a bond portfolio takes years to build. He told her a story of billionaire investor friends that he did real estate deals with that told him that could triple his money. He claimed he was receiving statements as well had legal paperwork drawn up. We executed the wires on his request to the companies he designated. We researched the companies as well which were not listed on OFAC and were listed in the US. His rep also credited the wire fees for him as well as any account fee. This is a client with an accounting background that checks his accounts daily to the penny. I signed off on these wires as the Rep verified the wires were coming from the client directly. He started to experience issues when he tried to withdraw his money from this NFT platform. He was told he had to pay taxes and borrowed additional funds from his brother. At the time he was told he had made $100 million, and he gave his rep and her assistant directions as to what to do with the money when it was wired back in, this was April 2023. he then found out he was a victim of a pig butchering scam, and he had met a woman on Facebook who was helping direct his investments in which he began a relationship with during this time. We did not find out about her until April as well as the name of the NFT site, openraritypro.com a derision of Openrarity.com, which is a valid site and part of Opensea.com. Our clearing firm was able to retain a small amount from the wires as everything was reported as fraud.
