Zamansky LLC Investigates Potential Investment Fraud Claims Against Laidlaw Financial Advisor Todd Anthony Cirella
Our firm is investigating potential investment fraud claims by customers of former Laidlaw & Co. Ltd. (“Laidlaw”) financial advisor Todd Anthony Cirella in Woodbury, New York.
In January 2013, Mr. Cirella agreed to an Acceptance, Waiver and Consent (AWC) with FINRA the Financial Industry Regulatory Authority, which suspended him from association with any brokerage firm for three months and fined him $5,000.
According to the AWC, from June 2020 and January 2021, Mr. Cirella recommended a series of trading in an account held by a senior customer that was excessive, unsuitable, and not in the customer’s best interest. Mr. Cirella recommended 46 transactions in the customer’s account which generated $27,566 in commissions and resulted in approximately $12,000 in trading losses. The commissions from the excessive trading imposed a high cost-to-equity ratio meant the customer’s account would have to grow by more than 37 percent annually just to break even.
What an Investor Can Do
If you were a customer of Mr. Cirella and wish to discuss whether you have a case for potential investment fraud, please call investment fraud attorney Jake Zamansky at (212) 742-1414 or email for a free evaluation of your potential legal rights.