Gustavo Dolfino Settles SEC Fraud Charges
Gustavo Dolfino (CRD# 2565725), formerly a broker registered with Silver Leaf Partners, defrauded investors in his education-technology startup, according to recent charges. MDF Law is investigating the former New York City-based financial professional for similar conduct. If you are a current or former client with concerns about your accounts, contact us for a free consultation.
Continue reading this post to learn more about the charges against Mr. Dolfino. This post is based on a December 2, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
SEC Alleges Student Global Fraud
On October 15, 2024, the Securities and Exchange Commission announced the settlement of charges against Mr. Dolfino. According to an official release by the regulator, the charges alleged that he made material misrepresentations to investors. The victims in question were investors in an educational-technology startup he founded, “Student Global LLC.” He allegedly misrepresented his background, his net worth, and his investment in the startup.
As the release described, the SEC alleged that Mr. Dolfino raised approximately $20.6 million from investors in Student Global. When soliciting these investments, he allegedly represented to investors that he was the founder of a hedge fund that he also sold. He also allegedly claimed that he sold a pharmaceutical company and “personally invested millions into Student Global.” The SEC charged further that he told investors “he was worth hundreds of millions of dollars.” None of these representations, according to the SEC, were true.
Student Global Interests “Worthless,” Per SEC
According to the SEC, Mr. Dolfino dissolved the startup after it ran out of money to finance its operations. “Student Global’s investors never received any distribution or other return on their investment,” reads a disclosure on his BrokerCheck report, “and Student Global’s membership interests are now worthless.” Finding that Mr. Dolfino violated securities law, the SEC ordered him to cease and desist from further violations. It also ordered him to pay disgorgement of $5,110,500 and a civil penalty of $500,000. Additionally, it barred him from acting as a broker or investment adviser.
FINRA: Gustavo Dolfino Last Based in New York City
Mr. Dolfino started working as a broker in 1995, when he registered with Dean Witter Reynolds. His career has included tenures at Sterling Financial Investment Group, UBS Painewebber, Pointe Capital, and Silver Leaf Partners. Last based at Silver Leaf’s office in New York City, he is no longer registered as a broker or adviser. With 15 years of experience as a broker, Mr. Dolfino has completed 11 industry exams, including the Series 79 and the Series 65.
MDF Law Advocates for Investors
Do you have concerns about investments in Student Global or other products recommended by Gustavo Dolfino? If your accounts contained products whose risks weren’t fully explained, or which were otherwise unsuitable for your background, you may have recovery options. Call MDF Law for a free consultation about your case. Our team has lengthy experience advocating for the victims of investment fraud, collecting millions in recoveries. To speak with an attorney for free, call 800-767-8040 today.