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Louis Ottimo of Cold Spring Advisory Files Chapter 7 Bankruptcy

We’ve been following an interesting case of a former stock broker. he was in the securities industry for many years, and had many sanctions, liens, withheld crucial information in filings, failed to make filings, and was ultimately barred from the industry by FINRA. Now Louis Ottimo of Cold Spring Advisory files Chapter 7 Bankruptcy. Mr. Ottimo has had been attached to controversy most of his career; he’s been sanctioned, been sued, had liens filed, and was attached to many companies that he ran, either on paper or not, that have all either filed bankruptcy and/or been sanctioned by the industry regulatory body (and other agencies).
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ID
#963278 Review #963278 is a subjective opinion of poster.
Location
New York, New York
Reason of review
Poor customer service
New Reviewer

Research

I caught wind of Cold Spring Advisory and Louis Ottimo and researched them. The more I dug, the more ominous it began to look. A former broker that was barred from the securities industry now collects upfront fees to go after people like him. I received a call from Louis Ottimo about a month ago, partly in reference to the article I wrote in September about him and his affiliation with Cold Spring Advisory, and also about me reaching out to a client. none answered the call, though I'm not surprised. You can't defend a house of cards against even a hint of a negative wind. Louis claims to be just a consultant, but my research into the matter revealed that he had far more access to the day to day business affairs of Cold Spring Advisory than he claimed. In fact: Louis Ottimo was the sole source of their client lead list; he engaged with and choose the lawyers that would represent said clients; he generated the checks to pay such lawyers; he alone interviewed all clients and their stock portfolios; and; he alone determined the up front fees to charge said clients. By this account, whether he was paid as an employee or a consultant, nonetheless made him essentially a de facto employee of the company.
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2 comments
#1397786

We just received a threatening telephone call from a John Murphy at Coldspring Advisory based upon an article we wrote exposing their antics and operation and “cold” calling victims from lists they obtained from the bad brokers themselves. If we did not take down our article, they would hire people to write bad reviews about us all over the internet.

https://securitiesarbitrations.com/coldspringadvisory/

#1261374

Seems now that they are giving financial advise. The last i was a aware brokers barred from FINRA weren't allowed to give financial advise under law, and Louis Ottimo has been barred and appears to be the driving force behind Cold Spring Advisory

http://www.digitaljournal.com/pr/317****

http://www.brieaustin.com/2016/10/cold-spring-advisory-louis-ottimo-confronted/

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ID
#961123 Review #961123 is a subjective opinion of poster.
Cons
  • Research ive done disputes their claims
Cold Spring Advisory Group Claims to help investors get money back from stockbroker fraud or wrongdoing. They say call them and they will help you for an upfront fee and a percentage of the money they recoup. Sounds great! Well Truthbetold, Here is who owns Cold Spring...
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10 comments
#1282239

please contact me bill weller 631-463-****

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ID
#748213 Review #748213 is a subjective opinion of poster.
Location
New York, New York
Pros
  • Promise to help me
Cons
  • I lost 12500
  • To read my contract
  • Refundable
Reason of review
total scam, promised results and kept my money. Instead of helping me, they took more of my money
Loss
$12500
Preferred solution
Have Law enforcement put this crook in Jail where he belongs

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