Cantone Research, Inc., Anthony Cantone And Christine Cantone Sanctioned By FINRA
The Wolper Law Firm is currently investigating claims against Cantone Research, Inc., Anthony Cantone and Christine Cantone in connection with their sale of “certificates of participation” in promissory notes issued by various private companies affiliated with Christopher Brogdon, including Oklahoma Financial, LLC, Columbia Financial, LLC, Chestnut Financial, LLC, Cedars Financial, LLC and Cherokee Financial, LLC.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on January 16, 2009, FINRA sanctioned Cantone Research, Inc., Anthony Cantone and Christine Cantone on the basis that:
“member firm and its president intentionally made material omissions and a misrepresentation in connection with the sale of securities in a series of private placements, and negligently made additional material omissions in connection with the sale of securities. In addition, member firm, through its chief compliance officer, failed to supervise the firm president in connection with the private placements.”
For the violations, Anthony Cantone was suspended by FINRA for one year and fined $150,000. Christine Cantone was suspended by FINRA for two years and fined $73,000.
For a full copy of the FINRA sanction, click http://www.finra.org/sites/default/files/fda_documents/2013035130101%20Cantone%20Research%20Inc.%20CRD%2026314%20Anthony%20Cantone%20CRD%201066139%20Christine%20Cantone%20CRD%202687618%20NAC%20Decision%20va.pdf
Anthony Cantone, the President of Cantone Research, Inc., marketed and sold certificates of participation in promissory notes issued by Oklahoma Financial, LLC, Columbia Financial, LLC, Chestnut Financial, LLC, Cedars Financial, LLC and Cherokee Financial, LLC to retail customers of Cantone Research, Inc. Anthony Cantone failed to disclose material facts regarding the investments, including the regulatory and criminal history of Christopher Brogdon, who operated the aforementioned companies, and the reasons why income payments to investors stopped.
All of the certificates of participation were marketed and sold as safe, income producing investments. In reality, they were speculative investments in companies controlled by Christopher Brogdon, who had a checked past replete with regulatory, criminal and civil cases. None of these facts were allegedly disclosed to investors by Anthony Cantone.
Anthony Cantone also has a history of customer complaints and regulatory actions brought by FINRA, which was not disclosued to investors.
For a full copy of Anthony Cantone’d FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/1066139#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
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