FINRA recently announced that Jamik Jamar Ligon, formerly of Merrill Lynch, Pierce, Fenner & Smith, Incorporated in Jersey City, New Jersey, and Rocco Anthony Mongelli, of Peak Securities Corporation in Largo, Florida, were fined and suspended by FINRA. Ligon was fined $7,500 and suspended from association with any FINRA member in any capacity for two months. Mongelli was fined $10,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, Ligon and Mongelli consented to the entry of findings that Ligon paid Mongelli a $50,000 referral compensation fee when Mongelli referred brokerage customers to Ligon because he was not registered to do business in the states of residence for those referred customers, and Ligon subsequently served as the registered representative for the accounts.
According to Jamik Ligon’s FINRA Broker Report (CRD), prior to working for Merrill Lynch, Ligon was a registered representative (financial advisors) with Franklin Ross, Inc. and Fordham Financial Management, Inc. According to Rocco Mongelli’s FINRA Broker Reports (CRD), prior to working at Peak Securities Corporation, Mongelli was a registered representative (broker) with Franklin Ross, Inc. and VFinance Investments, Inc.
If you have questions about investments you made with Ligon, Mongelli, Merrill Lynch or Peak Securities, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. The Law Offices of David A. Carter, P.A. is a South Florida securities fraud, securities arbitration, investor protection, and Chapter 7 bankruptcy law firm based in Boca Raton. David Carter is a securities attorney that reviews securities fraud cases throughout the country and Florida, including securities cases in Orlando, Jacksonville, Tampa, Tallahassee, Gainesville, and West Palm Beach. To contact the Law Offices of David A. Carter, P.A., please call 561-750-6999, or email us at contact@carterpa.com. For more information about the Law Offices of David A. Carter, P.A., you can also visit our website at www.carterpa.com.