Jon Paul Cirelli, Broker with Coastal Equities, Named in Customer Dispute Alleging Negligence, Breach of Fiduciary Duty, and Violations of Securities Laws

INVESTORS: Coastal Equities broker Jon Paul Cirelli was named in a customer dispute alleging negligence, breach of fiduciary duty, breach of contract, and Violations of Uniform Securities Act of Michigan

Jon Paul Cirelli (CRD: 4729737) is registered as a broker and investment adviser with Coastal Equities, where he’s been employed since April 2022.  Cirelli was previously registered as a broker and investment adviser with Concorde Investment Services from 2015 until 2022.

Cirelli has five disclosures on his BrokerCheck report. Two customer disputes were closed with no action taken.

March 2021 Customer Dispute

Status: Settled

Allegations: The Claim alleges negligence, breach of fiduciary duty, and unsuitable recommendations, relating to various investments made from July of 2015 to April of 2017.

Damage Amount Requested: $2,500,000.00

Settlement Amount: $725,000.00

March 2021 Customer Dispute

Status: Pending

Allegations: Representative is subject of claim alleging negligence, breach of fiduciary duty, breach of contract, and Violations of Uniform Securities Act of Michigan relating to limited partnership investments made in March and December of 2016.

October 2020 Customer Dispute

Status: Settled

Allegations: Client is alleging misrepresentation, relating to private placement investment made in August of 2016.

Settlement Amount: $12,500.00

The Sonn Law Group is currently investigating allegations surrounding Jon Paul Cirelli. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.