Former SagePoint Financial Advisor Thomas John Corsaro Sentenced

Bloomfield, New York     Are you a former client of Thomas Corsaro in Bloomfield, New York?  Corsaro, who previously worked with SagePoint Financial and Bankers Life, was charged with wire fraud and recently pleaded guilty to the charges.  He was charged by the U.S. Attorney’s Office for the Western District of New York.  On December 6, 2023, Corsaro was sentenced to four years in prison and ordered to pay $1.4 million in restitution.

It was alleged that from November 2020 to November 2022, Corsaro defrauded eight individual investors.  He represented that he would invest the funds, but instead he used the money for personal use.  He induced investors to write checks to his purported company Fox Trot Financial but did not use that money to invest.

Thomas John Corsaro worked in Bloomfield, New York.  He was licensed with SagePoint Financial from February 2018 to June 2021.  He was also with Bankers Life from July 2021 to January 2022.  Fox Trot Financial is disclosed on Corsaro’s BrokerCheck report attached below.

SagePoint Financial and Bankers Life had obligations to reasonably supervise their advisors’ conduct under the rules of FINRA.  If they failed to do so, they can be liable for investor losses.

The U.S. Attorneys Office Press Release can be found HERE.

FINRA BrokerCheck report can be found HERE.

If you lost money with Thomas John Corsaro or SagePoint Financial, please Contact Us at 206-795-5798 for a free evaluation of your case.