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THE [CUSTOMERS] ALLEGED THAT MR. VARRICCHIO
SUGGESTED THAT THEY SELL THEIR MERRILL LYNCH ANNUITY, WHICH
BECAME DUE IN AUGUST 1994, AND WERE NOT ADVISED OF ANY TAX
PENALTIES. THE [CUSTOMERS] ALSO ALLEGED THAT SECURITIES WERE SOLD
WITHOUT THEIR AUTHORIZATION TO PAY FOR ANNUAL ACCOUNT FEES.
THE [CUSTOMERS] ALLEGED THAT THEIR INVESTMENT IN MLH INCOME REALTY
PARTNERSHIP V 85 WAS MISREPRESENTED. THE [CUSTOMERS] CLAIMED
DAMAGES OF $9,653. THIS OCCURRED AT MERRILL LYNCH.
Damage Amount Requested
$9,653.00
Damages Granted
$150.00
Broker Comment
THE CLAIMS OF [CUSTOMER] AND [SPOUSE]
AGAINST MERRILL LYNCH AND JOHN VARRICCHIO WERE DISMISSED IN
THEIR ENTIRETY.
THIS IS BEING FILED AT THE INSISTENCE OF THE
NASD.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.