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Securities America Discharged Financial Advisor Giustino Destafano, Who Has Six Customer Complaints And A Regulatory Sanction

The Wolper Law Firm is currently investigating claims against Giustino Destafano, a former Financial Advisor at Securities America in Williamsville, NY.  Matthew Eckstein first entered the securities industry in 2005 and previously worked for Merrill Lynch, Wachovia Securities and Morgan Stanley.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Giustino Destafano has six customer complaints against him, including one pending complaint.  These complaints allege fraud, unsuitable investments, negligence and unauthorized trading.

  • September 2017—“Claimants allege representative engaged in discretionary trading and overconcentrated claimants’ accounts in unsuitable stocks.” Alleged damages are $830,000 and the matter remains pending.
  • February 2017—“Client alleges the representative effected unauthorized and unsuitable transactions between August 2014 and March 2015. The matter was settled.
  • February 2017—“Power of attorney for customer alleges excessive trading.” The matter was settled.
  • September 2015—“Customer alleges unsuitable investment recommendations, misrepresentation, excessive trading and unauthorized trading…” The matter was settled.


In addition, has in 2015, Securities America discharged Giustino Destafano for “failure to follow firm policies” and, in 2014, he resigned from Merrill Lynch amidst allegations that he was “mismarking order tickets for certain transactions.”

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.

If you or someone you know was a customer of Giustino Destafano, and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@ to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers 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.  His industry insight, experience and knowledge gives his clients a competitive advantage.

Now is the time to talk to an investment loss recovery lawyer. We can help recover your investment loss. Free consultations, always.
or call 800.931.8452
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