Vincent “Vinny” Grucci Investigation
June 2023-Ocean Ridge, FL
The FINRA records of Vinny Grucci, a former stock broker who was last employed by Fortune Financial Services, Inc. disclose a pending FINRA investigation , customer disputes resulting in settlements or awards , termination from employment and 21 currently outstanding judgment/liens.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 9/2022, FINRA case #20200654354 made a preliminary determination to recommend that disciplinary action be brought against Grucci alleging he made material misrepresentations and omissions in connection with the sale of securities; that he made unsuitable recommendations to purchase, and exchange variable annuities and that he did not comply with Fortune Financial Services’ written policies and procedures. The investigation is currently pending.
Early in his career in 1996, a customer was paid $160,882 to resolve claims that Grucci had churned their account. IN 7/2020
In 1/2020, a Fortune Financial Services, Inc. customer filed FINRA case #20-02142 alleging unsuitable product sale. The case settled for $40,000 that was paid by Grucci individually.
Grucci was discharged in 1992 by Educators Financial Management who alleged that Grucci stole business records and thereafter pleaded guilty to harassment.
Grucci discloses 21 currently outstanding liens owed to the IRS and other taxing authorities, including over $1 million owed to the Internal Revenue Service filed in Palm Beach County, FL.
Grucci was with Fortune Financial Services, Inc. from 2/2012 until 12/2022. Before that he was with Keystone Capital Corporation, National Planning Corporation and North Ridge Securities Corp.
If you have losses in an account handled by Vincent “Vinny” Grucci call to learn how you may be entitled to collect damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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