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FINRA Broker Allegations

Allegations against: John James Petracco

Allegation type: Customer Dispute

Allegation status: Pending

The allegations read: Prudential securities received a written complaint in which client though attorney alleges that fa was negligent in failing to advise client to disclaim her interest as beneficiary of her deceased husband`s annuities in order to fund trusts which were set up by the client`s attorney and estate planning advisors. Client seeks eimbursement of sales changes, believed to be in excess of $5,000, incurred upon liquidate annuities.

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