CHRISTOPHER PASSERO of Money Concepts Capital is SUSPENDED

Israels & Neuman, PLC

Christopher Passero with Money Concepts Capital, Suspended From Securities Industry and Fined

HURRICANE, WEST VIRGINIA

The investment fraud and securities arbitration law firm of Israels & Neuman is reviewing allegations made by FINRA (the Financial Industry Regulatory Authority) against Christopher Passero, who worked in Hurricane, West Virginia. Passero was suspended for three months and fined $10,000. He was under investigation regarding allegations that he paid customers money to compensate them for investment losses and did not disclose such to his brokerage firm, Money Concepts Capital.

Pursuant to FINRA Rule 2150 a member or representative cannot share in a customer’s losses without written authorization from the brokerage firm. Passero purportedly made 990 payments totaling almost $250,000 from 2010 to 2020. The payments for made for investment losses in REITs, or real estate investment trusts.

From 1998 to the present, Christopher Passero has been licensed with Money Concepts Capital in a Hurricane, West Virginia office. Passero has also been the subject of at least five customer complaints, including at least one complaint regarding the GPB Capital Ponzi scheme.

Securities brokerage firms like Money Concepts Capital must adequately supervise their advisors to ensure that they comply with FINRA rules, including suitability obligations under FINRA Rule 2111. If the advisor and/or brokerage firm fail in this respect, they can be responsible for investors’ damages.

Israels & Neuman is a securities arbitration law firm with offices in Denver, Seattle, Phoenix, and Ann Arbor, but we represent investors all over the country. We have represented over 1,000 investors in the past, including investors who have sued Money Concepts Capital.

View BrokerCheck: Passero, c BrokerCheck 4.12.22

View FINRA AWC: Passero, c FINRA AWC

If you lost money with Christopher Passero or Money Concepts Capital, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.

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