Were you the victim of former SW Financial broker Felipe Arrieta (CRD# 4142123)? He was registered with Great Point Capital LLC in Chicago, Illinois, from July to October 2023. Previously, he was registered with the following firms:
- Moloney Securities Co., Inc. in Manchester, Missouri, from July to October 2023
- San Blas Securities LLC in Atlanta, Georgia, from October to December 2022
- SW Financial in Melville, New York, from 2018 to 2022
- Dakota Securities International, Inc. in Miami, Florida, from 2016 to 2018
- Revere Securities LLC in Boca Raton, Florida, from 2014 to 2016
- Westpark Capital, Inc. in Boca Raton, Florida, from June to July 2014
- Bolton Global Capital in Boca Raton, Florida, from 2013 to 2014
Felipe Arrieta Customer Complaints
He has been the subject of six customer complaints between 2006 and 2023, two of which were denied, according to his CRD report. The most recent complaints are regarding:
February 2023. “Misrepresentation, negligence, unsuitability, breach of fiduciary duty.” The customer is seeking $5,000 in damages, and the case is currently pending. The complaint took place while he was registered with SW Financial, and it was regarding private placement investment losses.
January 2023. “Overconcentration, excessive risk, misrepresentation, inadequate due diligence, excessive commissions.” The customer is seeking $747,000 in damages, and the case is currently pending. The complaint took place while he was registered with SW Financial, and it was regarding private placement investment losses.
April 2017. “Misuse of margin, losses, negligence. Occurred and 2015 and 2016.” The customer sought $210,000 in damages, and the case was settled for $90,000. The complaint took place while he was registered with Revere Securities LLC, and it was regarding common and preferred stocks and options losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, SW Financial may be liable for investment or other losses suffered by Felipe Arrieta’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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