William “Eddy” Torriente (Comerica Securities) $50 Million Complaint Filed For Unauthorized Trading

A FINRA (Financial Industry Regulatory Authority) case was filed in March 2021 by a customer of Comerica Securities, where William “Eddy” Torriente, Jr. was employed at the time, claiming that he was in violation of the Arizona Securities Act and that he had indulged in unauthorized trading in the account. The allegations pertained to an options transaction in April of 2020. The transaction created a short position leading the customer to lose $500K. The FINRA case number 21-671 is currently under investigation.

Another customer of Comerica filed FINRA case number 21-658 which is also pending, again in March 2021, with similar allegations of Torriente having violated the provisions of the Arizona Securities Act and having carried out trades that were unauthorized. The trades covered options, equities as well as ETFs (Exchange Traded Funds). Damages sought are a whopping $50 million.

These disclosures on Torriente’s profile are as per the requirements of the agency that licenses and regulates brokers as well as brokerage firms, FINRA (Financial Industry Regulatory Authority). Both brokers and brokerage firms are required to disclose disputes, customer complaints, and regulatory sanctions, which are made available on their public profile on the BrokerCheck record. Judgments, liens, and personal bankruptcies are also required to be disclosed by brokers.

Comerica Securities, where he was registered from 2009 up to 2020, and from which he voluntarily resigned in 2020, adds the following comment on his record: “placed transactions in client accounts that the clients were not aware of.”

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William “Eddy” Torriente (Comerica Securities) $50 Million Complaint
William “Eddy” Torriente (Comerica Securities) $50 Million Complaint

Investor guidance William “Eddy” Torriente, Jr.

Investors can become victims of fraud and/ or negligence of their brokers. It is best to be guided by an investment fraud lawyer if that happens. Haselkorn & Thibaut (InvestmentFraudLawyers.com) represents investors nationwide in their battles against stockbrokers and broker-dealers for recovering losses incurred due to their malpractices. FINRA arbitration is one of the primary processes through which this is done.

You can speak to one of their experienced securities attorneys should you have doubts or questions about your account and how it has been handled. If you have had dealings with William “Eddy” Torriente, we recommend you get a case review. Most of our representation is on a contingent basis; so you aren’t charged anything as legal fees until you are successful. They can be reached at call Haselkorn & Thibaut, P.A. at 1-800-856-3352.


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