Morgan Stanley Broker Ron Filoramo Reportedly Fired with 4 Complaints Pending
According to a Letter of Acceptance, FINRA, the broker regulator, has barred Ron Filoramo (CRD#: 3270398) from the securities industry. On May 31, 2023, Morgan Stanley reportedly filed a form U-5 disclosing it had fired Filoramo stating, “Advisor terminated following allegations he fraudulently induced clients to transfer funds to purported investments that were never made.”
Filoramo reportedly failed to provide documents to FINRA as requested in the investigation, which led to the bar.
According to his FINRA broker profile, Filoramo has four pending customer complaints filed against him in March and April of this year. Allegations include having a customer “transfer funds to a purported outside investment that cannot be located.”
Collectively, the customers are reportedly seeking damages for a combined total of $860,000.
FINRA BrokerCheck – Ron Filoramo
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
BrokerCheck provides investors with detailed information about the professional history, qualifications, and regulatory actions of brokers and brokerage firms. Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA. It’s also a great way to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
According to his FINRA BrokerCheck report, Ron Filoramo was registered with the following firms during his career, among others:
04/29/2011 – 05/31/2023, MORGAN STANLEY (CRD#:149777), Fort Lauderdale, FL,
B, 05/05/2006 – 05/02/2011, WELLS FARGO ADVISORS, LLC (CRD#:19616), HALLANDALE, FL
B, 08/26/2002 – 05/25/2006, UBS FINANCIAL SERVICES INC. (CRD#:8174), WEEHAWKEN, NJ
Broker Investigation
The White Law Group is investigating potential securities claims involving Ron Filoramo and the liability his employers may have for failure to supervise him. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. We represent investors in all 50 states including Florida. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Ron Filoramo, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit WhiteSecuritiesLaw.com.
