FINRA

Without admitting or denying the findings, Dellaporta consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with its investigation into Dellaporta's involvement in an outside business activity.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

indefinite

4/14/2021

On or about July 2017, DELLAPORTA, in his capacity as a Registered Representative of FUSION, solicited [REDACTED] to make a substantial investment into Global Capital LLC, a/k/a 1st Global Capitol Financial Services (Global Capitol). Allegedly, respondents represented that Global Capitol was a Florida-based cash advance company and a safe and secure investment suitable for [REDACTED]'s investment objectives and providing a guaranteed rate of return. On or about 8/07/17, [REDACTED] allegedly "loaned" $300,000 to Global Capitol, but the loan and loan agreement were allegedly unregistered securities. On or about 9/30/17, [REDACTED] allegedly "loaned" a second $300,000 of Global Capitol, but as before, the loan and loan agreement were allegedly unregistered securities. The subject loan agreements should have been registered as securities with the SEC and Florida Securities authorities, but were allegedly not. Claimant does not have the second loan agreements but will allegedly obtain same in discovery. Allegedly, Global Capital was a Florida-based cash advance company that fraudulently raised more than $322 million from 3,600 investors between 2014 and 2018.

$360,000.00

Bankruptcy

Discharged

Claimant, on behalf of herself individually and in her capacities as trustee and personal representative, alleges that respondent recommended unsuitable investments that were overconcentrated in alleged low rated collateralized mortgage obligations and other mortgage backed securities. Claimant further alleges that the securities were purchased without permission.

$150,000.00

AMERIPRISE FINANCIAL SERVICES, INC.

Discharged

THE REGISTERED REPRESENTATIVE WAS TERMINATED FOR COMPANY POLICY VIOLATIONS RELATED TO UNAUTHORIZED USE OF DISCRETION, SOLICITATION OF FIXED INCOME SECURITIES NOT MEETING FIRM RATING REQUIREMENTS, SOLICITATION OF PROHIBITED OPTION TRADING LEVELS, AND MISMARKING TRADE TICKETS AS UNSOLICITED.

EXCESSIVE TRADING ON MAGRIN IN UNSUITABLE INVESTMENTS

$800,000.00

$375,000.00

CLIENT ALLEGES THAT EXCESSIVE AND UNSUITABLE TRANSACTIONS TOOK PLACE IN HIS ACCOUNT BETWEEN FEBRUARY 2005 AND NOVEMBER 2009.

$647,000.00

$52,500.00

PRIOR FIRM AMENDED FORM U5 ON 01/03/2013. AMERIPRISE NOTIFIED ON 01/04/2013 THROUGH FINRA DISCLOSURE LETTER.

[CUSTOMER], THROUGH HER EX-HUSBAND, VERBALLY ALLEGED IN AUGUST 2009 THAT THE OVER CONCENTRATION OF FINANCIAL PREFERRED SECURITIES RECOMMENDED AND PURCHASED IN HER ACCOUNT WERE UNSUITABLE TO THE LONG ESTABLISHED RISK PROFILE AGREED TO BY CLIENT, AND REPRESENTED AN UNAUTHORIZED CHANGE IN STRATEGY AND INVESTMENTS, RESULTING IN UNREALIZED LOSSES OF APPROXIMATELY $350,000.

$350,000.00

$150,000.00

MR. DELLAPORTA MET WITH CLIENT REGULARLY AND MR. DELLAPORTA BELIEVES CLIENT WAS AWARE OF EXISTING POSITIONS IN HER ACCOUNT.