FINRA Bars Broker Anthony DiDonna Over Forged Documents

Anthony DiDonna (Anthony Vincent DiDonna CRD# 7283414) is a former registered broker last employed with Equitable Advisors, LLC (CRD#:6627) of Woodbury, NY. He began working in the industry with Equitable in 2020, and has no other employers of record.

Equitable Advisors terminated DiDonna’s employment on 4/27/2021 for “unauthorized transactions and misappropriation of client funds.”

On 4/28/2021, a customer filed a dispute indicating that they “did not authorize transfers from their accounts to fund new investments that were unauthorized.” They also indicated that a signature on their account opening documents were “forged.” This claim is currently listed as “pending.” No additional information is available.

FINRA’s investigation began on 12/14/2021, and DiDonna failed to provide documents and information as requested. Therefore, he was barred indefinitely and permanently by FINRA from association with any member, effective 3/17/2022.

Why Is It Called “Misappropriation?”

In our blogs about brokers, investment advisors and other financial representatives, we frequently come across allegations of “misappropriation,” or “misappropriation of funds.” In the context of securities law, misappropriation is when someone handling an investment account directs the money to a place other than where the customer intended—usually to their own bank accounts.

Misappropriation is a form of embezzlement, but the term always refers to money. (Embezzlement can also include property that is under someone else’s control, such as equipment used by an employee.) It’s the intentional and illegal use of someone else’s money when they had lawful access to it for another purpose, such as trading in a brokerage account.

In the case of a financial services representative, the broker has control of the money, but not ownership, and has intent to take or misappropriate the funds and use it for their own purposes. However, even if the person doesn’t spend the money, or commit “conversion,” and intends to return the funds, it’s still a crime of misappropriation. For the client whose representative has committed this form of theft, filing a complaint with the brokerage is one of many ways to recoup some or all of the lost funds from the firm or the broker.

Did You Invest With Anthony DiDonna?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.