Former financial advisor James Mariani, previously associated with National Securities Corp. and Aegis Capital Corp., is the subject of growing scrutiny following his indefinite suspension by FINRA in early 2025. Regulatory records indicate a pattern of alleged misconduct, including unsuitable recommendations of high-risk alternative investments like the American Realty Capital NYC REIT, leaving many investors with significant losses.
If you have suffered investment losses working with James Mariani or Aegis Capital Corp., don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in securities fraud cases and will help to guide you through the process with a free and confidential consultation to determine whether your losses are the result of actionable misconduct.
2025 Regulatory Sanctions and Suspensions for James Mariani
The most recent data from FINRA BrokerCheck indicates that James Mariani (CRD# 2932631) is no longer registered as a broker and has been placed under indefinite suspensions.
Key Sanctions in Early 2025
- January 31, 2025: FINRA suspended Mariani for failing to comply with an arbitration award or settlement agreement.
- February 3, 2025: A second suspension was initiated for failing to respond to a FINRA request to provide information concerning the status of his compliance.
- Impact of Rule 9554: These suspensions are enforced under FINRA Rule 9554, which ensures that brokers satisfy their financial obligations to clients. Mariani’s suspension remains effective in all capacities until he satisfies the required payments or information requests.
These regulatory red flags serve as a final warning to investors that Mariani is currently barred from associating with any FINRA member firm.
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$350 Million for Our Clients Nationwide.
The $300,000 Claim Involving American Realty Capital NYC REIT
A significant portion of the current scrutiny stems from a customer complaint filed on February 21, 2025 (Claim No. 25-00361), which seeks $300,000.00 in damages.
Details of the NYC REIT Allegations
- Unsuitable Advice: The claimant alleges that Mariani made unsuitable recommendations to invest in American Realty Capital NYC REIT (now known as American Strategic Investment Co.) between 2014 and 2021.
- Misrepresentation: The filing also includes allegations of misrepresentation, claiming that the risks of the investment were not accurately disclosed.
- Illiquidity Risks: Non-traded REITs like this one are often highly illiquid, meaning investors cannot easily sell their shares, making them inappropriate for many retail investors, especially seniors or retirees.
These products often carry high commissions (approx. 7%) that can incentivize advisors to recommend them despite their complexity and volatility.
Timeline of Significant Investor Claims Since 2017
In addition to the 2025 filings, James Mariani has a history of disputes that occurred during his tenure at National Securities Corp. and Aegis Capital Corp. in Bayside, NY.
Recent Claim History
- July 2021: An investor alleged unsuitable recommendations in private placements, seeking $1.5 million in recovery.
- December 20, 2018: A customer dispute alleging suitability and breach of fiduciary duty sought $467,000 in damages.
- April 2018: A claim for $432,020 was filed alleging negligence and unsuitability; the matter was settled for $135,000.
- Sales Practice Violations: Investors have frequently cited over-concentration and the omission of material facts as key reasons for their financial losses.
Our lawyers are nationwide leaders in investment fraud cases.
How Meyer Wilson Werning Supports Defrauded Investors
The allegations of unsuitable recommendations and failure to comply with regulatory standards against James Mariani underscore the devastating impact of broker misconduct. When a financial advisor fails to act in their client’s best interest, the brokerage firm charged with supervising them must be held accountable for failing to protect investors.
If you or someone you know has been impacted by a securities or investment scam, the experienced attorneys at Meyer Wilson Werning are here to help. With more than 20 years in the industry and over $350 million recovered for our clients, our focus on investment fraud and securities litigation has helped many investors recover their losses. Contact us today for a free consultation to discuss your case and learn how we can assist you in protecting your financial interests.
Frequently Asked Questions
What are the main allegations against James Mariani?
Investors allege that James Mariani recommended unsuitable investments in private placements and REITs, often by misrepresenting the risks and over-concentrating client portfolios in these speculative assets.
What is the significance of the 2025 FINRA suspensions?
The suspensions indicate that Mariani failed to pay arbitration awards to clients or failed to cooperate with FINRA investigations. This effectively bars him from the securities industry until these issues are resolved.
Can I still recover losses if my broker is suspended or barred?
Yes. Investors can still pursue claims against the brokerage firm that employed the advisor at the time of the misconduct, as firms are legally responsible for supervising their employees. Would you like me to look into the arbitration history of Aegis Capital Corp. to see how they have handled similar claims?
Recovering Losses Caused by Investment Misconduct.
