Securities Lawyers Blog
Advisor Victor Rigoni (Rigoni), currently employed by Summit Brokerage Services, Inc. (Summit Brokerage) has been subject to at least three customer complaints. According to a BrokerCheck report some of the customer complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.
In October 2018 a customer filed a complaint alleging that Rigoni violated the securities laws by being recommended alternative investments causing breach of contract, fraud, misrepresentation, breach of fiduciary duty, and violation of FINRA rules. The claim alleges $125,000 in damages and is currently pending.
Rigoni is also the subject of multiple tax liens in amounts totaling over $50,000. Large tax liens on a broker’s CRD can be a red flag that the broker may be influenced to engage in high commission activity in order to satisfy personal debts. In addition, a broker’s inability to manage their own finances is relevant in a customer’s decision to use their services.