NEW BEDFORD, MASSACHUSETTS and CAVE CREEK, ARIZONA Have you lost money with Philip Riposo, a financial advisor formerly with United Planners Financial Services in New Bedford, Massachusetts? Riposo was recently discharged by United Planners Financial Services, regarding allegations that he created fake statements from Zurich Kemper Investments and provided them to clients.

Riposo also allegedly had clients write checks out to his own firm, Riposo Asset Management, which is not allowed by his former brokerage firm. According to FINRA BrokerCheck, Philip Riposo allegedly used those checks for personal expenses.

Philip Riposo worked at offices in New Bedford, Massachusetts, but he also was assigned to an office in Cave Creek, Arizona. Riposo had been with United Planners Financial Services from December 2015 to March 2022.

Generally, financial advisors or stockbrokers should not accept checks that are written to the advisor or their direct business. The checks generally should be written out to the licensed brokerage firm that they work for, or to the issuing company (such as a mutual fund, annuity, etc.). Accepting checks from client and sending fictitious statements is often a sign of fraud.

Israels & Neuman is an investment fraud and securities arbitration law firm. We represent investors all over the country, including investors in both Massachusetts and Arizona. We have previously had cases against United Planners Financial Services.

VIEW BROKERCHECK REPORT HERE

If you lost money with Philip Riposo, Riposo Asset Management, or United Planners Financial Services, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.

FALMOUTH, MASSACHUSETTS

Have you invested with Christopher Cavallaro from Falmouth, Massachusetts? The securities and investment fraud law firm of Israels & Neuman is looking into complaints made by several former customers who have filed claims against Christopher Cavallaro’s former brokerage firm, Lincoln Financial Advisors. Since April 2022, Lincoln Financial Advisors has faced five customer complaints, all alleging that their advisor sold them an unsuitable oil and gas investment. The oil and gas investment allegedly lost money, which led to the customers filing these complaints in FINRA arbitration.

From 2003 to October 2016, Christopher Cavallaro worked in a Falmouth, Massachusetts office for Lincoln Financial Advisors. He has been with LPL Financial since October 2016. He also operated Integrated Wealth Concepts.

Brokerage firms must perform due diligence on all investment products it sells. If they to adequately perform due diligence, the brokerage firms could be liable for investor losses.

VIEW BROKER CHECK REPORT HERE

If you lost money with Christopher Cavallaro or Lincoln Financial Advisors, please Contact Us at 206-795-5798 for a free evaluation of your case.

Things continue to get worse for former LPL financial advisor James Couture. Couture was previously criminally charged with defrauding investors in 2021 by the U.S. Attorney’s Office in Massachusetts. Now, additional criminal charges of witness tampering have been added.

Couture was told by prosecutors not to have any contact with his investment fraud victims. However, it was alleged that he tried to convince one of his victims that he never stole their money and was still investing it. The witness tampering charges stem from contact that Mr. Couture had with a victim between June and December 2021. It was alleged that he presented fake documents to the victim to demonstrate that the money was allegedly invested, but it was not an authentic document.

LPL Financial had a duty to reasonably supervise James Couture’s conduct while he was registered with LPL Financial. Couture had been a representative of LPL Financial from 2009 to July 2020. He was also previously barred from the securities industry by FINRA. Couture lived in Sutton, Massachusetts but worked in an office in Worcester.

Click to view: Couture, James SEC Complaint

Click to view: Couture, James FINRA AWC Click for More on James Couture

Our firm has previously spoken to investors who had money with James Couture and LPL Financial. If you lost money with James Couture or LPL Financial, CONTACT ISRAELS & NEUMAN at 720-599-3505 for a free evaluation of your case.