The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Robert Emmet Gill. Mr. Gill is employed and registered with Chelsea Financial Services, a broker-dealer with an office in Tinton Falls, New Jersey, according to his publicly available BrokerCheck, as maintained by the Financial Industry Regulatory Authority (FINRA). He was also previously registered with J.P. Turner & Company, LLC, Grayson Financial, LLC, M.S. Farrell & Company, Inc. and Investors Associates, Inc. Grayson and Investors Associates were expelled from FINRA in 2006 and 1998, respectively.
According to his BrokerCheck report, a Letter of Acceptance, Waiver and Consent (AWC) was accepted by FINRA stating that Mr. Gill was fined $5,000 and suspended from associating with any broker-dealer for borrowing $100,000 from a customer without notifying his then-employer J.P. Turner & Company, in violation of industry rules. Mr. Gill’s BrokerCheck report also discloses that he was “permitted to resign” from J.P. Turner based on the same allegations as those set forth in the AWC.
Mr. Gill’s BrokerCheck report sets forth that he was the subject of four customer disputes involving allegations of unsuitable investment recommendations, misrepresentations made and churning. Three of those four disputes resulted in settlements of $700,000 (with Mr. Gill contributing $50,000 personally), $32,500 and $35,610, respectively, according to industry records.