STUDIO CITY, CALIFORNIA Are you a former client of Juan Sosa in Studio City, California? The securities and investment fraud law firm of Israels & Neuman is investigating claims made against Juan Sosa, formerly with SagePoint Financial and Independent Financial Group. It has been alleged that Sosa converted or stole $331,000 from an elderly customer which resulted in him being “permitted to resign” by his brokerage firm in July 2022.

His resignation led to FINRA starting its own investigation. Sosa allegedly deposited over $220,000 to his own accounts and also wrote $111,000 in checks to pay off his own credit card bills.

Juan Sosa had been licensed with SagePoint Financial from 2005 to July 2022. He worked at Independent Financial Group from August 2022 to March 2024 in Studio City, California. In addition, he has been the subject of multiple customer complaints.

SagePoint Financial is a FINRA member and is required to sufficiently monitor the acts of its representatives. If the firm fails to do so, it could be responsible for investor losses. Our law firm has recovered millions of dollars for investors in the past, including numerous investors in California.

View FINRA AWC HERE View BrokerCheck Report HERE

If you lost money with Juan Sosa, or SagePoint Financial, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.

David Melilli was with SagePoint Financial from January 2010 to August 2019. He was also with Cambridge Investment Research from September 2019 to February 2020. He has worked at branch offices in Moorestown, New Jersey. Melilli was also the subject of three customer complaints, one of which alleges unauthorized trading in options.

Brokerage firms like SagePoint Financial have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against SagePoint Financial and Cambridge Investment Research.

View D. Melilli BrokerCheck Report

If you lost money with David Melilli, Cambridge Investment Research, or SagePoint Financial, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.