The Stock Market Loss securities fraud team is looking into complaints about Scott David Shapiro, a previously registered broker and investment adviser who worked with four firms over 21 years.
From 1994 to 2016, Shapiro worked for the following New York companies: D.H. Blair & Co., Inc.; Whale Securities Co., L.P.; Citicorp Investment Services; and Citigroup Global Markets Inc. During that period, Shapiro was the subject of several customer disputes, a separation from an employer following an allegation, and a criminal complaint.
Improper Sales Tactics
In several disputes from December 2015 to December 2016, customers alleged improper sales tactics involving annuities. The existence of several annuities-related complaints over just this recent one year period may indicate a pattern or practice of abusive sales and could mean there is a possibility that there are other clients with similar complaints who have yet to come forward.
Shapiro was permitted to resign from Citigroup Global Markets, Inc. in April 2016 during the company’s review of some client documents described as incomplete but signed. The company found that the documents were signed by someone other than the clients.
The attorneys at McCarthy, Lebit, Crystal & Liffman Co., LPA, represent investors who have lost assets due to fraud and misconduct by stockbrokers. For immediate assistance, please contact the investigative team at Stock Market Loss.
Hugh Berkson is a Securities Attorney with McCarthy, Lebit, Crystal & Liffman, Co. LPA. Hugh is rated AV® Preeminent™ by Martindale-Hubbell®.
He obtained a business degree in Finance from the University of Texas at Austin in 1989, and is a 1994 graduate of Case Western Reserve University School of Law, where he was a member of the Order of the Barristers and received both the American Jurisprudence Award, (National Mock Trial) in 1993 and the Jonathan M. Ault Mock Trial Prize for 1993-1994.
