Current Investigations

CMD Investigating Claims Against Christopher B. Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc. for Unsuitable Recommendations in High-Risk Gold and Energy Stocks

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Christopher B. Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc. for unsuitable recommendations and failure to supervise related to high-risk gold and energy stocks.

As reported by FINRA, Christopher B. Ariola or Chirs Ariola, made unsuitable recommendations to elderly retirees to invest a substantial portion of their limited retirement assets in certain high-risk gold and energy stocks. The findings stated that these recommendations were unsuitable given these customers’ financial circumstances, investment objectives and low risk tolerances, and because the recommendations resulted in the customers’ accounts being unduly concentrated in gold and energy stocks. Ariola made similar unsuitable recommendations with respect to a former customer’s retirement account that he controlled on the former customer’s behalf. As a result of his unsuitable recommendations, these customers suffered combined realized losses of $137,993.13.

If you or someone you know lost money investing with Christopher Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc., you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or contact@cmdllp.com for a free and confidential case evaluation.

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