ALLEGATIONS Against STEPHEN CARBONELLA of LPL Financial
Stephen Carbonella, formerly with LPL Financial, Barred by SEC
Have you lost money with financial advisor Stephen Carbonella of East Haven, Connecticut? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Stephen T. Carbonella. The SEC alleged that Stephen Carbonella misappropriated funds while employed with Webster Bank Corporation, primarily by taking money from account holders’ CDs. In September 2018, he pleaded guilty to these charges, and the SEC barred him from the securities industry for this conduct.
Stephen Carbonella was a financial advisor and registered representative of LPL Financial from October 2011 to September 2015. He worked at offices in Orange, Connecticut. Carbonella was also a branch manager at Webster Bank.
Brokerage firms like LPL 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; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Connecticut. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial.
Click to view: Carbonella, Stephen SEC Order
Click to view: Carbonella, Stephen BrokerCheck 12.27.18
If you lost money with Stephen Carbonella or LPL Financial, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.