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Oppenheimer Advisor Guy Presutti Faces $1.45mm Fraud Complaint
Boston financial advisor Guy Presutti (CRD# 1196621) recently received an investor complaint alleging fraud, breach of fiduciary duty, unsuitable investment recommendations, and other forms of misconduct. Records maintained by the Financial Industry Regulatory Authority indicate that he is currently registered as a broker and an investment advisor with Oppenheimer & Company.
Mr. Presutti’s BrokerCheck report multiple investor complaints. The most recent, filed in February 2023, alleges that as a representative of Oppenheimer & Company, he recommended an unsuitable private placement, breached his fiduciary duty, committed fraud, breached contract, violated state securities laws, and violated Regulation Best Interest. The pending complaint alleges damages of $1.45 million.
In a statement included with the pending complaint’s disclosure, Mr. Presutti denied wrongdoing and described his intention to “vigorously defend” himself against the allegations. “The particular investment was one of an overall portfolio construction that the claimant declined to fully implement,” he wrote. “I at all times conducted myself in an appropriate and professional manner.”
An earlier investor complaint, filed in 1993, alleged that as a representative of Shearson Lehman, he made an unsuitable investment recommendation, made misrepresentations regarding an investment recommendation, breached his fiduciary duty, and churned investments. In 1996 the complaint reached a settlement of $15,000.
According to the Financial Industry Regulatory Authority, Guy Presutti holds 38 years of securities industry experience. Based in Boston, Massachusetts, he has been a broker and an investment advisor with Oppenheimer & Company since 2005 and 2006, respectively. His past registrations include Bear Stearns & Company (New York, New York; 2000-2005), Dean Witter Reynolds (Purchase, New York; 1997-2000), Lehman Brothers (New York, New York; 1990-1997), Smith Barney Harris Upham (New York, New York; 1989-1990), Bear Stearns & Company (New York, New York; 1987-1989), Dean Witter Reynolds (1985-1987), and First Investors Corporation (1983-1984). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He currently holds 30 state licenses. (Information current as of June 3, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.