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WARNING! Impending Investigation–VITO BALSAMO and NATIONAL SECURITIES CORPORATION

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15
Apr

WARNING! Impending Investigation–VITO BALSAMO and NATIONAL SECURITIES CORPORATION

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Vito Balsamo and National Securities Corporation

Have you lost money with financial advisor Vito J. Balsamo of New York City?  We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Vito Balsamo.  FINRA is investigating Balsamo for allegations that he engaged in outside business activities without notifying his firm, National Securities Corporation.  FINRA alleged that from June 2010 to September 2010, Balsamo solicited at least three customers of National Securities Corp. to invest at least $475,000 in V.W. Industries LLC, a purported construction company.

FINRA alleged that Balsamo did not have permission from his firm to sell interests in V.W. Industries.  FINRA further alleged that Balsamo earned an ownership interest in VW Industries for his sales efforts.

Vito W. Balsamo was a financial advisor and registered representative of National Securities Corporation from April 2008 to February 2012.  He worked at a branch office in New York, New York, and he operated his business under OPN Capital Markets.  In January 2012, Balsamo was charged with racketeering, a claim which is still pending. Vito Balsamo has been the subject of at least 4 customer complaints.

Brokerage firms like National Securities Corp. 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, such as refraining from selling investments and securities that are not approved by the firm.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Our attorneys have represented over one thousand investors who have been defrauded by their financial advisor or stockbroker.  While we have offices in Denver and the Seattle area, we have also previously represented clients throughout New York.  If you have lost money with Vito J. Balsamo or National Securities Corporation and want to hear about ALL legal options, please visit https://www.israelsneuman.com and go to our CONTACT page or call us at 720-599-3505.

Click to view:  Balsamo FINRA Comp

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.
10.0David P Neuman

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