Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gabriel Edelman (Edelman), previously associated with Spartan Capital Securities, LLC, has at least one disclosable event. These events include one regulatory event, alleging that Edelman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on May 30, 2024.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Gabriel Edelman (‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. The Commission finds that on April 10, 2024, a judgment was issued against Respondent, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in the civil action entitled SEC v. Gabriel Edelman, et al., 22 Civ. 7892 (S.D.N.Y.). The Commission’s complaint alleges that from approximately February 2017 to May 2021, Respondent, through entities that he controlled, fraudulently offered and sold securities using false and misleading statements to four investors, raising a total of approximately $4.3 million. The Commission further alleges that Respondent falsely told investors their funds would be invested in digital assets, but in fact, he only invested a small portion of investor funds in digital assets, and instead used a significant amount of investor funds for personal expenses.