SPARTAN CAPITAL SECURITIES

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Justin Deiter (Deiter), previously associated with Spartan Capital Securities, LLC, has been subject to at least one disclosable event. These events include one tax lien. Several of those complaints against Deiter concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on February 06, 2025.

Without admitting or denying the findings, Deiter consented to the sanction and to the entry of findings that he willfully violated Reg BI by recommending to two retail customers a series of trades that were excessive and not in the best interest of the customers, one of whom was an 89-year-old retiree. The findings stated that Deiter’s trading resulted in high turnover rates and cost-to-equity ratios that exceeded the traditional guideposts of six and 20 percent. Deiter’s recommended transactions in the first customer’s account generated $19,792 in commissions and caused $25,291 in realized losses. The trading in the elderly customer’s account generated $28,264 in commissions and caused $33,363 in realized losses.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Tedeschi (Tedeschi), previously associated with Spartan Capital Securities, LLC, has at least one disclosable event. These events include one tax lien, alleging that Tedeschi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 18, 2023.

Without admitting or denying the findings, Tedeschi consented to the sanctions and to the entry of findings that he failed to amend his Form U4 to disclose that he had been charged with two felonies. The findings stated that Tedeschi was arrested and charged in Nassau County, New York with Criminal Sale of a Controlled Substance in the Third Degree and Criminal Possession of a Controlled Substance in the Third Degree, both Class B felonies. Tedeschi ultimately pled guilty to a reduced misdemeanor charge of criminal possession of a controlled substance. Tedeschi was aware that he had been charged with two felonies and he discussed the charges with supervisors at his member firm. However, Tedeschi did not timely amend his Form U4 to disclose the charges, as he was required to do. Indeed, Tedeschi never disclosed the felony charges on his Form U4 prior to his resignation from the firm.

Articles Tagged with SPARTAN CAPITAL SECURITIES

There are Recent Customer Complaints with Broker Justin Deiter in Firm Spartan Capital Securities, LLC

There are Recent Customer Complaints with Broker Thomas Tedeschi in Firm Spartan Capital Securities, LLC