Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Nick Giallourakis: New Fraud Complaint Against Boca Raton Advisor
Newbridge Financial Services advisor Nick Giallourakis (CRD# 4496285) recently received an investor complaint alleging he committed fraud and other forms of misconduct. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Boca Raton, Florida.
Mr. Giallourakis’s BrokerCheck report discloses four investor complaints. The most recent, filed in June 2022, alleges that as a representative of Newbridge Securities Corporation, he breached his fiduciary duty, breached contract, committed fraud, violated FINRA Rule 2210, and recommended unsuitable alternative investments. The pending complaint alleges unspecified damages.
An earlier investor complaint, filed in 2015, alleged that as a VSR Financial Services representative, he breached his fiduciary duty, committed fraud, breached contract, and recommended unsuitable investments in equities and exchange-traded funds. The complaint reached a settlement of $14,000.
A third investor complaint, filed in 2013, alleged that he engaged in negligence, breached contract, and recommended unsuitable direct and real estate investments while at VSR Financial Services. In 2014 the complaint reached a settlement of $23,266.
A fourth investor complaint, also filed in 2013, alleged that he breached his fiduciary duty, breached contract, engaged in negligence and unjust enrichment, and misrepresented and omitted material facts while at VSR. The complaint reached a settlement of $180,000.
According to the Financial Industry Regulatory Authority, Nick Giallourakis holds 20 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker and an investment advisor with Newbridge Securities and Newbridge Financial Services Group, respectively, since 2016. His past registrations include VSR Financial Services (Clearwater, Florida; 2004-2016) and Raymond James & Associates (St. Petersburg, Florida; 2002-2004). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, New York, North Carolina, Pennsylvania, and Tennessee. (Information current as of September 3, 2022.)
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