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Read MoreThomas Duggan: Ex-Aegis Advisor Allegedly Committed Elder Abuse
Former Melville, New York financial advisor Thomas Duggan (CRD# 2757615) has received investor complaints alleging unauthorized trading, elder abuse, and other forms of misconduct. Records provided by the Financial Industry Regulatory Authority indicate that he was most recently registered as a broker with Aegis Capital.
Mr. Duggan’s BrokerCheck report discloses five investor complaints. The most recent, filed in October 2021, alleges that as a representative of Aegis Capital Corporation, he recommended unsuitable investments. The pending complaint alleges unspecified damages.
A earlier investor complaint, filed in 2021, alleged unsuitable, excessive, and unauthorized transactions while he was at Aegis Capital. The complaint reached a settlement of $7,500.
A third complaint, filed in 2020, alleged unsuitable investment recommendations, fraud, gross negligence, breach of contract, and elder abuse. In 2021 the complaint reached a settlement of $145,000. In a statement included with the disclosure, Mr. Duggan defended himself against the complaint. “The allegations are absolutely false and without merit,” he wrote. “We intend to vigorously fight these untrue allegations and prove our innocence.”
A fourth investor complaint, filed in 2019, alleged he breached his fiduciary duty, breached contract, and made misrepresentations of material facts regarding an investment product. In 2022 the complaint reached a settlement of $70,000.
A fifth complaint, filed in 2001, detailed allegations of an unauthorized purchase and sale while he was at Investec Ernst & Company. The complaint reached a settlement of $700.
According to the Financial Industry Regulatory Authority, Thomas Duggan holds 25 years of securities industry experience. He is not currently registered as a broker or an investment advisor, though he was most recently registered with Aegis Capital in Melville, New York from 2016 until 2022. His registration history includes Maxim Group (Woodbury, New York; 2002-2016), Investec Ernst & Company (New York, New York; 1999-2002), and Royce Investment Group (Woodbury, New York; 1996-1999). His credentials include the passage of four securities industry qualifying exams: 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. (Information current as of December 21, 2022.)
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