Securities Arbitration Lawyers BlogSharing Customer Losses Leads To FINRA Suspension For Raymond Menna
Raymond Adam Menna (CRD #1918097) is a registered broker and investment advisor currently employed with Planmember Securities Corporation (CRD #11869) of Farmingville, NY. His previous employers include Prime Capital Services, Inc. (CRD #18334) and Mutual Capital Corp. (CRD #106813), both of Ronkonkoma, NY. He has been in the industry since 1989.
Menna has a total of three disclosures, one regulatory and two customer disputes.
On 11/17/2017, a customer filed a dispute alleging that Menna engaged in unauthorized trading, unsuitable investing, misrepresentation and material omissions, and requested damages of $1,000,000. All parties agreed to a settlement of $260,000.00 to avoid the associated costs of litigation. The agreement included stipulations that there was no admission or denial of the charges, and all allegations were denied.