“The customer complaints included allegations that Belardino had misrepresented account values, traded excessively, and did not liquidate accounts as requested by his customers,” Finra said.
Among the several customer disputes listed for Belardino on BrokerCheck, one stems from a client’s claim that the advisor misrepresented account values, excessively traded and failed to liquidate accounts when asked. That case settled for $1.5 million, according to the site.