INVESTIGATION of THOMAS BORRUSO of LPL Financial
Have you lost money with financial advisor Thomas J. Borruso of National Securities Corp. and LPL Financial in Melville, New York?
The law firm of Israels & Neuman is investigating allegations of former customers related to Thomas Borruso. Thomas Borruso’s CRD report, a public record maintained by FINRA, states that Borruso was barred from the securities industry by FINRA after he failed to respond to its investigation. Borruso was also the subject of a customer complaint, alleging that Borruso purchased a number of speculative stocks on behalf of the customer.
Thomas Borruso (CRD# 5475175) was a registered representative of LPL Financial from December 2014 to July 2016. He also previously worked with National Securities Corp. from February 2008 to April 2014. He has worked at branch offices in Melville, New York. Borruso is also affiliated with Wexford Financial Strategies.
Brokerage firms like LPL Financial and National Securities 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; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past, including against LPL Financial and National Securities Corp.
Click to view: Thomas Borruso BrokerCheck
If you lost money with Thomas Borruso, LPL Financial, or National Securities Corp., please CONTACT US at 720-599-3505 or 206-795-5798 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.