9
Nov

DAVID MELILLI of SagePoint and Cambridge Accused of Fraud

Losses with David Melilli of Cambridge and SagePoint in New Jersey

MOORESTOWN, NEW JERSEY

 Have you lost money with financial advisor David Melilli, formerly with SagePoint Financial and Cambridge Investment Research in Moorestown, New Jersey?  We are looking into allegations made against David John Melilli.  Melilli was barred from the securities industry by FINRA after he failed to respond to an investigation.  FINRA was investigating allegations that he exercised discretion in customer accounts without written authorization; that he engaged in unauthorized trading in a deceased customer’s account; and that he forged customer signatures on documents.

David Melilli was with SagePoint Financial from January 2010 to August 2019.  He was also with Cambridge Investment Research from September 2019 to February 2020.  He has worked at branch offices in Moorestown, New Jersey.   Melilli was also the subject of three customer complaints, one of which alleges unauthorized trading in options.

Brokerage firms like SagePoint Financial have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against SagePoint Financial and Cambridge Investment Research.

View D. Melilli BrokerCheck Report

If you lost money with David Melilli, Cambridge Investment Research, or SagePoint Financial, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.