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Rock Maselli: VCS Advisor Denies $500K Fraud Complaint
Garden City, New York financial advisor Rock Maselli (CRD# 2791357) recently received an investor complaint alleging that his conduct resulted in $500,000 in damages. Financial Industry Regulatory Authority records show that he is a broker with VCS Venture Securities, having previously been registered with Joseph Stone Capital in Mineola, New York.
Mr. Maselli’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in September 2023, alleges that as a representative of VCS Venture Securities and Joseph Stone Capital, he breached his fiduciary duty, violated federal securities laws, breached contract, committed fraud, acted grossly negligent, and violated the New York Consumer Protection Act in connection with investments in penny stocks. The pending complaint alleges damages of $500,000.
In a statement included with the pending complaint’s disclosure, Mr. Maselli pushed back against the allegations. “The claim is without merit and I deny the claims and accusations of improper conduct,” he wrote, adding that he intends to defend against the complaint and “expect[s] all claims to be denied.”
An earlier investor complaint, filed in 2009, alleged that as a representative of Gunnallen Financial, he executed unauthorized transactions, churned investments, and committed fraud. In 2010 the complaint reached a settlement of $14,999.
A third investor complaint, filed in 2005, alleged that as a Morgan Wilshire representative, he improperly handled the customer’s account. In 2006 the complaint reached a settlement of $17,000.
A fourth investor complaint, filed in 2003, similarly alleged that as a Benchmark Securities representative, he improperly handled a customer’s account. The complaint reached a settlement of $15,000.
According to the Financial Industry Regulatory Authority, Rock Maselli holds 27 years of securities industry experience. Based in Garden City, New York, he has been a broker with VCS Venture Securities since September 2021. His past registrations include Joseph Stone Capital (Mineola, New York; 2015-2021), Meyers Associates (New York, New York; 2015), Morgan Wilshire Securities (Garden City, New York; 2003-2015), Gunnallen Financial (Tampa, Florida; 2003), Benchmark Securities Group (Oklahoma City, Oklahoma; 2002-2003), First Security Investments (Kingston, Pennsylvania; 2002), Prudential Securities (New York, New York; 2000-2002), Dean Witter Reynolds (Purchase, New York; 1997-2000), Continental Broker-Dealer Corporation (Carle Place, New York; 1996-1997), and Oppenheimer & Company (New York, New York; 1997). 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 Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Connecticut, Florida, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Texas, and Virginia. (Information current as of October 15, 2023.)
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