Broker Negligence Attorney

Did You Suffer Portfolio Losses While Working With Ex-SagePoint Financial Broker Thomas Corsaro?

Former NY Financial Advisor Sentenced in $1.7M Investment Fraud

Shepherd Smith Edwards and Kantas (investorlawyers.com) are investigating claims of losses by clients of ex-SagePoint Financial stockbroker Thomas John Corsaro. The former New York financial advisor pleaded guilty to defrauding investors of $1.7 million and was sentenced to two years in prison. He also was ordered to fully pay back those he harmed.

Corsaro was barred by the Financial Industry Regulatory Authority (FINRA) last year. He was a SagePoint Financial stockbroker from 2018 to 2021, and, most recently, he was a registered representative with Bankers Life Securities. He also worked at other broker-dealers during his 15 years in the industry and is a former registered investment adviser.

From November 2020 to November 2022 Corsaro defrauded eight investors. Instead of investing their money, he used the funds for his use.

Can You Sue The Broker-Dealers Where Corsaro Was Registered At The Time?

Even if the broker-dealers where Corsaro worked were unaware that he was stealing money from clients, you still may be able to sue SagePoint (now Osaic Wealth) or Bankers Life for damages if there is evidence that they failed to properly supervise him and or prevent him from committing financial advisor fraud while he was a registered representative with either of them. Brokerage firms are supposed to spot any red flags indicating something may be amiss. They must take action to prevent or stop any misappropriation, misconduct, fraud, or negligence.

Over the years, Shepherd Smith Edwards and Kantas have worked with many investors against broker-dealers whose registered representatives engaged in fraudulent or careless actions.  Ignorance on the part of the brokerage firm is no excuse especially when it is the investor who ends up suffering.

Our Broker Negligence Attorney Team Exclusively Represents Investors

Unlike many law firms that represent clients in various practice areas, we only practice securities law and are dedicated to helping investors receive the financial recovery they are owed. One reason for this is that many of us used to work in the brokerage industry and witnessed a lot of unsavory behavior. We left that field to become savvy securities attorneys who are committed to fighting for clients like you.

How To Contact Our Broker Negligence Attorney Team:

We have represented investors in over 1000 matters in court, arbitration, and mediation. More than 90% of those we have helped have received full or partial financial recovery.

Call (800) 259-9010 today.