Barred Ohio Stockbroker Accused of Over 500 Unsuitable Exchange Traded Fund Transactions
Dominic Anthony Tropiano, a former registered broker in Ohio, is now facing US Securities and Exchange Commission (SEC) fraud charges. The regulator contends that Tropiano placed more than 500 unsuitable and unauthorized trades in 40 customer accounts belonging to retail customers, including elderly investors.
These transactions and investment strategies involved leveraged exchange-traded funds (ETFs), which are complex, very risky securities. As a result, customers allegedly lost over $1M. Meanwhile, Tropiano earned at least $115K in bonuses and commissions.