According to FINRA’s website, Brandon Gioffre recently entered in to a Letter of Acceptance, Waiver, and Consent (AWC) with FINRA.
Among other things, the AWC alleges that between August 2014 and April 2015, while Gioffre was registered through Constellation Wealth Advisors, he allegedly recommended to several people, including one Constellation Wealth Advisors customer, an investment in a private placement that was not offered through Constellation Wealth Advisors. Gioffre, however, allegedly created the false impression that Constellation Wealth Advisors sanctioned the private placement by meeting with the issuer and potential investors at the Firm’s offices and using his Firm-issued email address to communicate with the issuer and potential investors.
Two of the people to whom Gioffre recommended the securities, including the Constellation Wealth Advisors customer, purportedly invested a total of approximately $2,000,000 in the securities, $1,500,000 of which was apparently invested by the Constellation Wealth Advisors customer. As a result, Gioffre allegedly received commissions totaling $100,000, $75,000 of which was paid to him in connection with the Constellation Wealth Advisors customer’s investment. Both purchasers reportedly lost their entire investments.
By reason of the foregoing, FINRA determined that Gioffre violated NASD Conduct Rule 3040 and FINRA Rule 2010.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on the firm and it’s representation of investors, visit https://www.whitesecuritieslaw.com.
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