SEC Bars David Bonuccelli Following Theft Conviction

David Bonuccelli (CRD #: 1180593), a broker formerly registered with F.I.A. Securities Group, has been barred by the SEC, according to his BrokerCheck record, accessed on October 7, 2022. Keep reading to learn more about his conduct as a broker.

Bar by SEC

On June 27, 2022, the Securities and Exchange Commission barred David Bonuccelli pursuant to Section 203(f) of the Investment Advisers Act of 1940.

On August 1, 2019, David Bonuccelli pleaded guilty to one felony count of theft from an employee benefit plan in violation of Title 18 United States Code Section 664 before the United States District Court for the Eastern District of California.

In his plea agreement, David Bonuccelli allegedly admitted that his firm, Bonuccelli & Associates, sponsored retirement benefit plans for its employees under the Employee Retirement Income Security Act of 1974 (ERISA). He was allegedly the sole trustee over one of these plans, a traditional pension plan.

David Bonuccelli allegedly admitted that he made unauthorized transfers totaling $1,243,154 from this pension plan to his personal bank account and his own retirement plan during 2011-2014.

These alleged actions violated the operating agreements David Bonuccelli is alleged to have signed. These agreements allegedly explicitly prohibited the use of pension plan funds for any purposes besides the benefit of the beneficiaries and participants, including loans, the diversion of funds, and self-dealing.

Lastly, David Bonuccelli allegedly admitted that he filed inaccurate annual reports with the U.S. Department of Labor stating that the pension plan had not been subject to any “nonexempt transactions with any party-in-interest” and misrepresented the end-of-year balances of the pension plan.

Investment Advisers Act of 1940

Sections 203(e) and 203(f) of the Investment Advisers Act of 1940 permit the SEC to bar investment advisers for a variety of offenses, including conviction of theft or misappropriation of funds.

Background Information

David Bonuccelli has passed the following exams:

• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

He previously worked for F.I.A. Securities Group (CRD#:14028).

Kurta Law Can Help

If you worked with David Bonuccelli and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.