FINRA Files Complaint against Illinois Broker Concerning Undisclosed State and Federal Tax LiensWednesday, August 19, 2020
The Financial Industry Regulatory Authority (FINRA) Department of Enforcement recently filed a complaint against registered representative Victor Rigoni, III for allegedly failing to timely amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose unsatisfied federal and state tax liens.
Rigoni is currently associated with two FINRA member firms: Cetera Advisor Networks LLC and Summit Financial Group, Inc. since September 2019 and January 2011, respectively, in Lake Forest, Illinois.
According to the Complaint filed on August 3, 2020, Rigoni failed to timely amend his Form U4 to disclose six state and federal tax liens totaling almost $165,000. On average, Rigoni would disclose these liens 3.5 years after the fact and never disclosed a state tax lien totaling $11,304. According to the complaint, Rigoni also made false statements on his annual compliance questionnaire between 2012 and 2017.
Rigoni’s FINRA BrokerCheck report reveals three customer disputes in between October 2018 and May 2019 that alleged breach of fiduciary duty, common law fraud, negligence, and misrepresentation, among other things. Settlement amounts ranged from $12,000 to $25,000. He also has a pending customer dispute alleging breach of contract and unsuitable recommendations with a damage request totaling $99,000.
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