Last Updated: April 2025 | Garden City, NY
Here’s what you need to know about Garden City, NY, stockbroker Michael Fasciglione:
- Name: Michael Fasciglione
- Current Employer: Barred by FINRA
- Prior Employers: Aegis Capital Corp., National Securities Corporation, First Montauk Securities Corp.
- Function: Stockbroker / Financial Advisor
- DBA: JR Consulting
- Primary Location: Garden City, NY
- CRD Number: 1806486
- Can Michael Fasciglione be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes – Multiple regulatory actions
- Highest Settlement or Award: $300,000
- Pending Customer Disputes Seek Damages of Over $1,700,000
If you’ve sustained damages from Mr. Fasciglione, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Fasciglione As Your Stockbroker?
Michael Fasciglione has been the subject of numerous customer complaints and regulatory actions. One award remains unpaid as of February 3, 2025, leading to a permanent bar from the industry by FINRA.
Another arbitration award in FINRA Case #19-03440 led to a judgment of $27,104 in compensatory damages, $6,000 in costs, and $5,000 in attorneys’ fees related to REIT investments deemed unsuitable.
Fasciglione has also been the subject of a $300,000 arbitration award in NYSE Case #2002-010590 concerning claims of breach of fiduciary duty, misrepresentation, and unauthorized trading.
Allegations of Broker Misconduct Against Michael Fasciglione
Michael Fasciglione has been involved in 27 customer disputes, 5 regulatory events, and 1 pending criminal charge. Allegations include:
- Unsuitable investment recommendations, including real estate securities, REITs, and private placements
- Breach of fiduciary duty and negligence
- Unauthorized trading
- Misrepresentations and omissions of material facts
- Failure to supervise subordinates and accounts
- Failure to respond to FINRA inquiries (FINRA Rule 8210 violation)
- Failure to update Form U4 with IRS tax lien (FINRA Rule 1122 & 2010 violations)
Regulatory Sanctions:
- Permanent bar issued by FINRA on January 2, 2024, for failure to respond to information requests (FINRA Rule 9552(h)).
- Multiple suspensions in 2025 for failure to comply with arbitration awards or provide compliance status.
Criminal Charges:
- Pending felony charge in Nassau County, NY (Case #CR-004821-23NA) for Strangulation 2nd Degree and Assault with intent to cause physical injury.
Recover Your Investment Losses Now With Rex Securities Law
Investigations of Aegis Capital and Aegis Capital Brokers-Lawsuits, Arbitrations & Disputes
If you have suffered investment losses in an account handled by Michael Fasciglione, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.