Did you make investments with former Pennsylvanian broker Nicholas J. Polito Jr.? If so, the White Law Group may be able to help you recover your investment loss through a claim against the brokerage firm that employed Polito.
In addition to his prison sentence, Polito was barred from working in the securities industry and ordered to pay $673,349.44 in restitution. It is unclear, however, whether or not Polito has the money to make the payment. As such, The White Law Group is investigating other avenues of recovery on behalf of investors.
Brokerage firms have supervisory responsibility to monitor the activity of their employees and implement the necessary safeguards to protect their customers. When a registered representative defrauds customers and/or misappropriates funds, the brokerage firm may be liable for negligent supervision and responsible for losses.
If you suffered losses investing with Nicholas J. Polito Jr. while he worked as a registered Representative with the above mentioned firms, you may have a claim to recover your losses. If you would like to speak with a securities attorney to discuss your litigation options, please call the The White Law Group at (312)238-9650.
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