10/13/11 BREAKING NEWS! FINRA HAS ISSUED A WELLS NOTICE TO STEPHEN PIZZUTI

Finra has issued a Wells Notice as it is reviewing matters related to the supervision of two former representatives who "sold away" from the firm. Read the recent FINRA report now!

8/12/11 STEVE PIZZUTI ADMITS TO FINRA THE FIRM'S FINANCIAL SITUATION IS "BLEAK"

From the Finra record of the appeal of Merrimac regarding the fine: "Merrimac's chief executive officer, Stephen Pizzuti, accurately described the firm's financial situation as "bleak." "Merrimac lost brokers when the FINRA examiner told the firm that it was not authorized to sell the Four Products in 2007, and the bad markets that followed soon thereafter exacerbated the firm's problems. It has laid people off, cut personnel costs, and moved to inexpensive space." "Matthews takes only a minimal salary because most of his salary has been used to compensate Merrimac's new chief compliance officer." "Thomes is receiving only half of his former salary." "The only other salaried person is a clerical employee." "Stephen Pizzuti takes virtually no money out of the firm. He has not been receiving commissions, and has been liquidating personal assets to cover his living expenses." "The firm is in poor financial shape despite all of these measures. Merrimac generated total revenue of nearly $4 million in 2005, but revenue declined to about $2.8 million in 2007. Total revenue dropped by nearly a million dollars in 2008…" "…In the first quarter of 2010, Merrimac generated total revenue of $495,549.00." "For fiscal years 2007 - 2009, the firm lost money each year." "While it had net income of $18,951.20 in the fourth quarter of 2009, the firm lost $9,382.89 in the first quarter of 2010. Over the last 2 years, its excess net capital fluctuated from about $1,000 to $20,000." "In its most recent FOCUS report, it reported slightly higher excess net capital of $39,631." "Almost two-thirds of the firm's cash consists of its deposit with its clearing firm, so the excess net capital does not represent available funds." "The firm has no assets that can be sold, and it cannot borrow." "There are no funds available from Team Advisory, the parent company. Merrimac is Team Advisory's only asset, and its only source of revenue."

5/1/2011

Update from the Orlando Sentinel

4/28/11 UPDATE ON MERRIMAC'S FINRA VIOLATIONS!

On January 25th of 2011, FINRA fined Steve Pizzuti's firm $18,500.00 for violation of the Securites Exchange Act of 1934, and they are barred from private placements. Upon information and belief, Merrimac is continuing this practice and may be shuttered soon, and Steve Pizzuti may be opening an office in Hawaii to continue these practices under a new name.

11/1/10 BREAKING NEWS!

On October 27th, Steve Pizzuti was ordered by the Federal Bankruptcy Court to appear for a 2004 examination of all his finances!

10/18/10 - BREAKING NEWS!

Official documents show Steve Pizzuti's attempts at a cover-up! Below is part of the carefully worded statement by Steve Pizzuti to try and convince the public of his non-involvement in these schemes: This is page 29 of the "Confidential Private Placement Memorandum" of "Wellington Pierce Holdings, LLC". The Pizzuti's own documents make it clear that not only did Richard Puzzuti have a connection to WallStreet(sic)411, he was working for Merrimac as a broker when he made an illegal loan to his brother, Steven Pizzuti (the broker dealer), that was never paid back. IF STEVE PIZZUTI IS LYING ABOUT THIS, WHAT ELSE IS HE LYING ABOUT?

9/27/10

During the week of September 20th, FINRA visited the offices of Merrimac unannounced, in part of an ongoing investigation, for approximately eight hours. Do not be fooled by spin attempts by Steve Pizzuti, this information is vital to unsuspecting clients, contact the federal agencies listed below, do your own homework! DO NOT BE FOOLED!

Orlando Sentinel Aricles:

Orlando Sentinel has the latest from the Pizzuti Bankruptcy Hearing!

The Latest on the Pizutti Bankruptcy!

Orlando Sentinel Reports The Story!

THIS IS
STEPHEN "STEVE" PIZZUTI

WARNING! WARNING! WARNING! WARNING! WARNING! WARNING!

Documents and testimony clearly show that Merrimac client accounts were RAIDED for the Pizzutis' own personal gain without the clients' knowledge and authorization. Steve Pizzuti, ignoring his oversight broker responsibilities, allowed his employee, broker, and brother, Rich Pizzuti to take money from unsuspecting clients accounts for his own projects. In exchange, Rich kicked back over $300k directly to Steve as a 'loan' which would never be paid back. If you were a Merrimac client that noticed the unauthorized transaction and then contacted his or her Merrimac representative for an explanation and were told "this is a long term investment and there's nothing that can be done about it", contact the authorities listed below immediately! Steve Pizzuti continued to perpetuate the cover up and fraud! Do not invest directly or indirectly with any entity attached to a PIZZUTI!

TO ALL POTENTIAL INVESTORS, LENDERS, AND PARTNERS:

Stephen "Steve" Pizzuti may be using WALLSTREET411 and/or EVALUVEST , which could be a potentially bogus stock picking scheme allegedly partially funded by laundered revenues, to potentially swindle unsuspecting investors. Steve Pizzuti may be under investigation for FRAUD, EMBEZZLEMENT, MISREPRESENTATION, BREACH OF CONTRACT, VIOLATION OF CORPORATE CODES, and SEC VIOLATIONS. He is alleged to be indirectly part of a PONZI SCHEME and could be violating securities regulations. Complaints filed with FINRA include: COMMON LAW FRAUD, CONSTRUCTIVE FRAUD THROUGH BREACH OF FIDUCIARY DUTY, NEGLIGENCE AND GROSS NEGLIGENCE, FAILED TO PROPERLY SUPERVISE REGISTERED REP (DUE TO NEPOTISM), CIVIL THEFT, and NO FIDELITY BOND.

DO NOT GIVE ANY MONEY TO HIM OR ANY OF THE FOLLOWING PARTIES HE MAY CLAIM TO REPRESENT, AS THERE ARE NOW DOCUMENTED LOSSES OF FUNDS IMPROPERLY CONTROLLED BY THE PIZZUTI FAMILY AND THEIR CORPORATE FRONTS OF OVER 2 MILLION US DOLLARS, AS STEVE PIZZUTI, ON INFORMATION AND BELIEF, WORKING FOR MERRIMAC SECURITIES, ASSISTED HIS BROTHER RICHARD A PIZZUTI IN SECURING LOANS THAT STEVE PIZZUTI, WITHOUT AUTHORIZATION, USED TO FUND HIS OWN ENDEAVORS:

• WALL STREET 411 Private Equity Group INC.
• EVALUVEST DIRECT INVESTMENTS, INC.
• EVALUVEST LLC
• MERRIMAC CORPORATE SECURITES, INC.
• CAMBRIDGE DISCOUNT BROKERAGE, INC.
• STOCK DR. INC
• TEAM ADVISORY CORP., INC.
• WELLINGTON PIERCE HOLDINGS, INC.
• ALLEN DOUGLAS SECURITIES, INC.
• K & S Management LLC
• Merrimac WP Branch Ops INC.
• J & C Investments
• PIZZUTI PRINCIPLE
• RICHARD A. PIZZUTI

If you know, have been propositioned, or have done business with STEVE PIZZUTI (or any of the aforementioned entities or people), OR LOST MONEY WITH STEVE PIZZUTI, AND HE HAS REFUSED TO REPLY TO YOUR REQUESTS FOR REPAYMENT,

ASSIST THE INVESTIGATION, FILE A REPORT WITH YOUR LOCAL AUTHORITIES, AND ALSO CONTACT ALL OF THE FOLLOWING:

SPECIAL INVESTIGATOR (ORLANDO)

OFF: 407. 466. 8737
THE CONTACT HERE IS MIKE GIBBENS.

US ATTORNEY, MIDDLE DIST OF FL (ORLANDO)

OFF: 407. 648. 7500
FAX: 407. 648. 7643
THE US ATTY IS: A. BRIAN ALBRITTON, BUT THEY MAY SEND YOU TO ELIZABETH MEDINA, VICTIM-WITNESS SPECIALIST

FLORIDA OFFICE OF FINANCIAL REGULATION

OFF: 850. 410. 9805
FAX: 850. 410. 9748
THE CONTACT PERSON HERE IS KELLY KILKER, FINANCIAL EXAMINER/ANALYST II HER DIRECT LINE IS: 850. 410. 9741

FINRA

Click here to view Steve Pizzuti's current (as of 12/18/2011) FINRA BrokerCheck report. Note that there are 5 customer disputes and 1 regulatory event, much the same as his brother, Richard Pizzuti, was barred for life for. These are some of the reported companies Steve Pizzuti represents and may use to solicit funds. If Steve Pizzuti tries to solicit investments representing a firm not on his report, or you experienced losses due to Steve Pizzuti's activities, please call and report this to FINRA at the following TOLL FREE number:

1 (800) 289-9999

ALL INFORMATION GIVEN IS STRICTLY CONFIDENTIAL.

If you have reason to believe you were damaged financially by Steve Pizzuti, send your story to pizzutifraud@gmail.com and it will be included here.

*FINRA is not responsible for the content of this website. Visit www.finraprotects.org for more information. This site does not constitute an attempt at extortion in any way. All content herein is a matter of public interest, and only exists to assist others who may have been damaged, are unsuspecting potential victims, or in reporting any losses or improprieties to the appropriate authorities. Mr. Steven (AKA Steve or Stephen) Pizzuti is a public person who uses his stature to endorse his products via the web and radio, and as such he is subject to public scrutiny. This site does not contain anything illegal or libelous in any way shape or form. The subject matter on this site is sourced from various public records, sworn statements such as THE SIGNED DECLARATION (UNDER THE PENALTY OF PERJURY) OF AN EX-EMPLOYEE AND WHISTLE-BLOWER, and public sources of information like FINRA, SUNBIZ.ORG, & CORPORATIONWIKI, and from interviews with former employees, clients, and other court documents.
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