Christopher Veale—Churning Customer Accounts, Excessive Trading
Christopher Veale Allegedly Churned the Market Account of an Elderly Business Owner Resulting in Purported Losses of $1.6 Million
Christopher Veale, of New York City and Brookville Capital Partners LLC, allegedly “churned” the market account of an elderly business owner and purportedly concealed the amount he was being charged for the excessive trading, according to a Complaint from the Massachusetts Securities Division currently under review by attorneys Alan Rosca and Joe Peiffer.
Veale has prior disciplinary actions against them, as does Brookville’s CEO, a related party in the complaint, and it should be noted that Veale has been registered and employed with 18 different securities firms since 1994, according to said Complaint.
The Peiffer Rosca Wolf securities lawyers are currently investigating Christopher Veale’s alleged churning of market accounts, and are interested in talking to any investors who may have suffered losses in connection with investing with Veale.
Christopher Veale, Despite Several Past Fines and Suspensions, Still was Allowed to Work under FINRA’s “Heightened Supervision”; Worked with Stratton Oakmont Inc., as Seen in “The Wolf of Wall Street”
Christopher Veale has reportedly had a rather checkered past in the brokerage industry, has been labeled as a “rogue broker” by Massachusetts Massachusetts securities regulator William Galvin, and even formerly worked for Stratton Oakmont Inc., as seen in the Hollywood hit, “The Wolf of Wall Street”, according to the Complaint from the Massachusetts Securities Division presently being reviewed by attorneys Alan Rosca and Joe Peiffer.
Furthermore, the Complaint details that the aforementioned businessman, an 81-year-old Rhode Island resident and owner of a commercial masonry business in Massachusetts, purportedly opened an investment account with Brookville after a cold call from a salesperson in August 2010.
Veale allegedly shared commissions o n this account, from August 2010 through June 2012 – the investor was induced to put $873,622 into the account to meet margin calls and purchase securities, the account turnover ratio was over 200% and he incurred $319,818 in commissions and hidden markups, according to the Complaint.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged churning of customer accounts, and currently investigating Christopher Veale’s alleged excessive trading and churning of customer accounts, and are available to talk to any investors who may have suffered losses in connection with investing with Veale. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Christopher Veale’s ’s alleged excessive trading and churning of customer accounts, may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.