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Pasquale Capone: $600K Complaint Against Wells Fargo Advisor

Recent investor complaints against Woodbury, New York financial advisor Pasquale Capone (CRD# 2487767) allege that he recommended unsuitable investments and made unauthorized transactions. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Wells Fargo Clearing Services.

Mr. Capone’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in November 2023, alleges that as a representative of Wells Fargo Clearing Services, he recommended unsuitable investments. The pending complaint alleges damages of $600,000.

A second investor complaint, filed in 2016, alleged that as a Wells Fargo representative, he “made unauthorized and unsuitable trades.” In 2016 the complaint reached a settlement of $47,500. A comment included with the complaint’s disclosure states that his firm settled it “without any admission of wrongdoing, solely to avoid the costs and expenses of continued litigation and to terminate the arbitration.” It adds that Mr. Capone “was not asked to contribute in any way to the settlement and did not in fact contribute to the settlement.”

A third investor complaint, filed in 2010, alleged that as a Wells Fargo representative, he made excessive trades and recommended unsuitable investments. In 2011 the complaint reached a settlement of $70,000.

A fourth investor complaint, filed in 2004, alleged that as a Morgan Stanley representative, he recommended unsuitable stock investments. In 2006 the complaint reached a settlement of $37,000.

A fifth investor complaint, filed in 2004, alleged that as a Morgan Stanley representative, he failed in his supervisory responsibilities. In 2005 the complaint reached a settlement of $200,000.

Other current or former Wells Fargo advisors to receive investor complaints include James Blaszyk, Jeremy Strickler, Tom Avant, Frank Carter III, and George Cairnes.

According to the Financial Industry Regulatory Authority, Pasquale Capone holds 29 years of securities industry experience. Based in Woodbury, New York, he has been a broker and an investment advisor with Wells Fargo Clearing Services since 2004 and 2019, respectively. He was previously registered with Morgan Stanley DW in Purchase, New York from 1994 until 2004. His credentials include the passage of nine securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Combined State Law Examination, or Series 66. He holds 32 state licenses. (Information current as of December 10, 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.

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