JOSEPH CRESPI of Stifel Nicolaus Accused of Excessive Trading

Israels & Neuman, PLC

Stifel Nicolaus & Company Ordered to Pay $3.2 Million Regarding Joseph Crespi and Excessive Trading in Customer Accounts

ST. LOUIS, MISSOURI

Did you lose money investing with advisor Joseph Crespi, formerly with Stifel Nicolaus & Company? Recently, the Massachusetts Securities Division brough a claim against Stifel Nicolaus, which is a St. Louis, Missouri-based brokerage firm.

The Massachusetts claim alleged that Joseph Crespi worked in a Taunton, Massachusetts office of Stifel Nicolaus. Massachusetts alleged that Crespi excessively traded customers’ accounts using mutual funds and unit investment trusts (UITs) in order to generate commissions for himself. Massachusetts further alleged that Stifel Nicolaus failed to adequately monitor Crespi’s conduct, in violation of its duties. To settle these allegations, Stifel Nicolaus agreed to pay $712,612 in restitution to effected customers and an administrative fine of $2.5 million.

Stifel Nicoalus has an obligation to adequately supervise Joseph Crespi, who worked at Stifel Nicolaus’ Taunton, Massachusetts office from December 2018 to February 2022. Crespi had been the subject of three customer complaints prior to joining Stifel Nicolaus.

Israels & Neuman PLC has sued numerous brokerage firms before, including Stifel Nicolaus. We represent investors in Massachusetts and throughout the country.

View Crespi, j BrokerCheck 5.8.23

View s n, Massachusetts Order

If you lost money with Joseph Crespi, Stifel Nicolaus & Company or in Unit Investment Trusts, please Contact Us at (206) 795-5798 or (720) 599-3505 for a free evaluation of your case.

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