Austin Mastro: $11 Million Investor Complaint Against Mineola Advisor

Joseph Stone Capital broker Austin Mastro (CRD# 6323031) has received an investor complaint alleging more than $11 million in damages. Financial Industry Regulatory Authority records show that he is registered in Mineola, New York, and was previously a representative of Worden Capital Management.

Mr. Mastro’s BrokerCheck report discloses one pending investor complaint. Filed in April 2022, the complaint alleges fraud, churning, unauthorized trading, excessive trading, and excessive commissions while he was a representative of Worden Capital Management. The pending complaint alleges damages of $11,831,000.

In a comment on the pending complaint’s disclosure, Mr. Mastro describes the allegations as “false,” “riddled with inaccuracies,” and filed by a third party representative. “The client is an experienced investor who is merely attempting to use this arbitration as an insurance policy against misfortune in the equities market,” he wrote, continuing: “I will add the claimant is strategically seeking damages for a dollar amount that does not make sense because the client was profitable. He specifically thanked my firm for there business when transferring out with a total profit of $69,387.890. He knows it will cost myself to defend the arbitration in hopes of achieving a settlement. The claim will be vigorously defended.”

According to the Financial Industry Regulatory Authority, Austin Mastro holds seven years of securities industry experience. Based in Mineola, New York, he has been a broker with Joseph Stone Capital since 2020. He was formerly registered with Worden Capital Management in Garden City, New York from 2015 until 2020. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Indiana, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Pennsylvania, Texas, and Washington. (Information current as of June 7, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.