What is financeville craigscottcapital?
financeville craigscottcapital was the name of a real company in the USA. It was actually called CraigScottCapital, LLC and was a broker-dealer. This means it helped people buy and sell stocks. But be careful: This company only existed from around 2010 to 2017. Then it made major mistakes and was shut down.
Why was financeville craigscottcapital shut down?
a) Too many trades
The company made too many trades with customers’ money – far too many! As a result, customers often lost money, while the company collected a lot of fees. This is called “churning.” The regulatory authority FINRA ruled: This is prohibited because it is unfair.
b) Poor supervision
The company’s bosses – Messrs. Taddonio and Porges – didn’t pay enough attention. They knew there were too many buying and selling activities, but did nothing to stop it.
c) Incorrect information and records
The company used private email accounts and faxes for important client data such as passport numbers or bank information. But they didn’t store this information properly, even though they should have. The U.S. Securities and Exchange Commission (SEC) found that this also resulted in penalties.
Penalties faced by financeville craigscottcapital
1. Fine from the SEC
The SEC, a major US regulatory authority, announced:
- $100,000 fine for the firm
- $25,000 fine for Taddonio
- $25,000 fine for Porges
2. FINRA Penalty – Exclusion
In September 2017, CraigScottCapital, LLC was completely excluded by FINRA – this was its most serious step. The firm was no longer allowed to conduct stock market transactions.
3. Professional Disbarment
Taddonio and Porges were banned from ever working in the financial industry again.
A broker named Beyn, who had also committed numerous misconduct, was also excluded.
Why the story of financeville craigscottcapital is important
- Customer protection: Authorities ensure that companies do not misuse customers’ money.
- Trust: When companies break such rules, people lose trust in the stock market.
- Rules are important: Anyone who trades with other people’s money must be fair and document everything.
Current status of financeville craigscottcapital
financeville craigscottcapital is no longer a real company. It no longer exists under that name.
If you come across a website or Facebook page with that name, don’t trust it blindly – there is no real company behind it.
The name may just be a marketing ploy to appear reputable, but the real people responsible are no longer active.
The most important names related to financeville craigscottcapital
- CraigScottCapital, LLC = the company
- CraigScottTaddonio = CEO
- BrentM.Porges = COO
Both are now permanently barred from the financial sector.
How the financeville craigscottcapital fraud was discovered
The SEC investigated because private emails and faxes were unprotected.
FINRA then looked at the trading activity and saw that there were too many bad trades.
A hearing was held, but the company did not respond – then came the barring.
What can we learn from the financeville craigscottcapital case?
- Always ask: If someone claims to be a broker, ask if they’re registered with FINRA or the SEC.
- Be wary of multiple trades: If someone is constantly buying and selling, ask why.
- Documentation matters: Firms must write down and store everything so authorities can track it.
Overview in simple terms
Keyword: Explanation
Churning: Far too many purchases/sales to collect fees
Penalties: Firm paid money, was debarred, executives are banned
No trust: New sites with the name are unfortunately often fake
Another Topic To Read:- What Is Being Authentic WhatUTalkingBoutWillis
Conclusion
financeville craigscottcapital (formerly Craig Scott Capital, LLC) is a story with clear lessons:
The firm broke strict financial rules.
It was debarred by FINRA in 2017.
The SEC and FINRA investigated and penalized the firm and its executives.
Today, it no longer exists—be wary of sites with that name.
