The Latest Customer Claim Accuses Investment Advisor of Excessive Trading
Once again, an investor is blaming former Morgan Stanley stockbroker, Michael Frank Paesano, for their investment losses. These latest allegations involve excessive trading.
Although Paesano is no longer a registered broker, he is still a registered investment advisor and he may be affiliated with Axiom Investment Management. During Paesano’s 26 years in the industry, there have been more than twenty customer complaints brought against him. While four of these cases were denied, all of the other resolved claims have led to significant settlements, including one for $1.2M.