There are options for clients of Wintrust Investments LLC broker Cataldo Panici (CRD# 2112617) who suffered investment losses. He has been registered with Wintrust Investments LLC in Frankfort, Illinois since 2009. 

Cataldo Panici REIT Losses

He has been the subject of three customer complaints between 2009 and 2024, one of which was denied, according to his CRD report:

January 2024. “Claimant [REDACTED] filed for FINRA Arbitration against Wintrust Investments alleging that Representative Panici misinformed and mismanaged the client account resulting in substantial losses. Claimant [REDACTED] filed for FINRA Arbitration against Wintrust Investments alleging that Representative Panici stated that investing in the Northstar and Griffin Capital REITs would give good dividends that could be used to invest to grow the childrens college fund. He further recommended the [REDACTED] should keep holding on to the investment and it would become steady leading to substantial losses to their children’s college fund. Claimants [REDACTED] and [REDACTED] filed for FINRA Arbitration against Wintrust Investments alleging that Representative Panici promised their parents an 8 year return of their investment which was not true. Claimants allege that Mr. Panici misrepresented and took advantage of an elderly couple and their diminished capacity causing considerable loss.” The customer is seeking $355,000 in damages. The complaint was regarding non-traded real estate investment trusts (REITs).

May 2020. “Clients allege firm and representative failed to meet its fiduciary duty and purchased speculative investments for which the clients have suffered significant damages.” The customer sought $150,000 in damages, and the case was settled for $12,500. The complaint was regarding mutual funds and non-traded REITs.

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, Wintrust Investments LLC may be liable for investment or other losses suffered by Cataldo Panici’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.