Erez Law is currently investigating former Pruco Securities, LLC broker James Pelletiere (CRD# 2628708) who was barred by FINRA. He was registered with Pruco Securities, LLC in Downers Grove, Illinois, from 2019 to 2022, and with MML Investors Services, LLC in Chicago, Illinois from 2008 to 2019.
In October 2023, FINRA barred him after he “consented to the sanction and to the entry of finding that he refused to provide information and documents requested by FINRA in connection with its investigation into whether Pelletiere had, among other things, misused customer funds and accepted cash payments from a client.”
James Pelletiere Customer Complaints
He has been the subject of three customer complaints between 2022 and 2023, according to his CRD report:
April 2024. “Customer alleges that the rep forced her to purchase a policy with a premium higher than she felt comfortable with and came to her place of work to give her cash to pay the first two months’ premium. He later advised her that she could reduce the monthly payment which caused the policy to go into default.” The customer is seeking $10,050 in damages, and the case is currently pending. The complaint was regarding insurance losses, and it took place while he was registered with Pruco Securities, LLC.
March 2024. “The complainants allege that, beginning in or around 2017, the signatures on documents related to fixed annuity and life insurance policies were not genuine.” The case is currently pending. The complaint was regarding insurance and fixed annuities losses, and it took place while he was registered with Pruco Securities, LLC.
December 2022. “Customer Alleges that the rep did not fully disclose all the facts regarding churning of policies and fees.” The customer sought $146,268.53 in damages, and the case was settled for $148,532.53. The complaint was regarding insurance losses, and it took place while he was registered with Pruco Securities, LLC.
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, Pruco Securities, LLC may be liable for investment or other losses suffered by James Pelletiere’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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