DID THOMAS DIAMANTE CAUSE YOU INVESTMENT LOSSES?
Thomas Diamante Of Formerly With SW Financial Has 2 Customer Complaints For Alleged Broker Misconduct
About Thomas Diamante formerly with SW Financial?
Thomas Diamante (CRD #1645257) is an experienced broker who is not currently registered. His career spans multiple firms and extensive certifications. Diamante was associated with SW Financial in Babylon Village, New York from January 2008 to April 2023, and prior to that, he held positions at several other firms including Empire Financial Group, Atlas Capital Services, and NYLife Securities Inc. throughout his career which started in August 1987. He has passed 1 principal/supervisory exam, 4 general industry/product exams, and 1 multi-state securities law exam, marking him as well-qualified in various aspects of securities trading and brokerage.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Thomas Diamante Customer Complaints and Reviews
Thomas Diamante’s professional record includes several negative disclosures:
- Regulatory Event (1): In a finalized regulatory action by FINRA, Diamante was found to have engaged in deceptive practices related to the sale of pre-IPO funds. He received undisclosed compensation in addition to the stated commission, which he failed to disclose to his firm or investors. This resulted in significant undisclosed earnings, part of which he retained personally. The case concluded with his consent to sanctions without admitting or denying the findings.
- Customer Disputes (2 pending):
- A complaint filed in June 2023 accused him of negligence, unsuitability, and several forms of fraud in relation to bond investments, seeking $100,000 in damages.
- Another complaint from May 2023 alleges negligence, breach of fiduciary duty, and negligent supervision, with claimed damages of $135,000.
Allegations Against Thomas Diamante
- Regulatory Actions:
- Deceptive practices and undisclosed compensation in the sale of pre-IPO funds, violation of FINRA Rule 2010, and negligence in supervisory duties.
- Customer Complaints:
- Allegations include negligence, unsuitability, fraudulent misrepresentations and omissions, securities fraud, common law fraud, breach of fiduciary duty, and breach of contract related to bond transactions.
- Allegations of negligence, breach of fiduciary duty, and negligent supervision concerning unspecified securities.
Thomas Diamante Red Flags & Your Rights As An Investor
Of course, Thomas Diamante did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Thomas Diamante at SW Financial on alert to review carefully the activity and performance of their accounts and question whether Thomas Diamante has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at SW Financial also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At SW Financial Due To Thomas Diamante
If you have questions about SW Financial and/or Thomas Diamante and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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