Category Archives: Spartan Capital Securities

Jovannie Aquino-Former Spartan Capital Securities Broker- Is Barred and Discloses Regulatory Events, Customer Disputes and a Termination-New York, NY

June 2020- New York, NY

According to publicly available records Jovannie Aquino (CRD#4876661), a  former stockbroker who last worked for Spartan Capital Securities,  discloses a regulatory event, a civil event, 3 final customer disputes,  1 pending customer dispute and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In June 2019  Aquino was permanently barred from the securities industry as a result of the following:

In September 2018, the United Sates Securities and Exchange Commission filed case #1:18-cv-08191 in Federal Court in the United States District Court of the Southern District of New York alleging that from December 2015 to November 2017, Aquino engaged in a fraud involving excessive trading in the accounts of his retail customers that generated substantial commissions to enrich himself while his customers experienced significant losses.    Aquino’s fraudulent acts and omissions resulted in approximately $881,000 in losses for customers and $935,000 in ill-gotten gains for Aquino.    He was permanently barred from the securities industry and given a monetary sanction of $75,000 and ordered to pay   disgorgement of  $568,805.

In July 2018, a customer of Aquino’s previous employer, Windsor Street Capital filed case #58-SV-18-327 in Pine County District Court alleged that Aquino was properly served with all the necessary court papers and that he failed to timely respond.   The alleged damages are $171,851.  The case is still pending.

In November 2011, Aquino was discharged from employment from Rockwell Global Capital after allegations that he entered into a written commission agreement with a client without the firm’s knowledge and permission.

Aquino worked with Spartan Capital Securities from November 2017 until September 2018.   Before that he was with Windsor Street Capital, John Carris Investments, John Thomas Financial and Rockwell Global Capital.   

If you had an account with Jovannie Aquino that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Albert Foronda- Spartan Capital Securities Broker- Discloses Customer Disputes- NYC

October 2019- NYC, NY

According to publicly available records Albert Foronda.   (CRD#5737620 ,  a  stockbroker  currently registered  with Spartan Capital Securities,  disclose a prior customer dispute and 2 pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In July 2017, a Worden Capital Management  customer, alleged unauthorized trades from 7/11/2017 until 7/27/2017.    The case was settled for $14,000.

In May 2019, a Spartan Capital Securities customer filed FINRA case #19-1160 alleging unsuitability, excessive trading and negligence and is seeking damages of $650,000.

In March 2018, a customer of Legend Securities and Worden Capital Management, filed FINRA case #18-01479 alleging breach of fiduciary duty, violations of NASD and FINRA Rules, breach of contract and negligence and is seeking damages of $90,000.

Albert Foronda.  has been  employed by Spartan Capital Securities since August of 2017.    He was with Worden Capital Management from November 2016-August 2017 Before that time he was employed with Legend Securities and National Securities Corp.   

If you have questions about an investment account handled by Albert Foronda. ,  contact us for a no charge consultation to learn about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Nicholas Schiano- Spartan Capital Securities Broker-Discloses Two Customer Disputes-New York, NY

October 2019, New York, NY

According to publicly available records Nicholas James Schiano (CRD#4429212) ,  a  stockbroker who currently is employed by Spartan Capital Securities,   discloses 1  prior customer dispute and 1 pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA case #17-02149,  a cusotmer of  Legend Securities, alleged that Schiano made unsuitable recommendations causing losses.   That case was settled for $35,000 with the entire amount paid by Schiano personally.

In currently pending FINRA) case #19-00916, a customer of Legend Securities alleges misrepresentation, negligence and breach of fiduciary duty and is seeking damages of $208,000.

Nicholas Schiano  has been employed by Spartan Capital Securities  since August of 2017He was previously employed with Worden Capital from November of 2016 until September 2017, and before that with Legend Securities, Joseph Gunnar and Brookstone Securities.  

If you have questions about an investment account handled by Nicholas James Schiano ,  contact us for a no charge consultation to learn about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Michael Venturino-Former Aegis Capital/Trident Partners Broker-Subject of $1.2M Customer Suit-Garden City, NY

January 2019- Garden City, NY

According to publicly available records Michael Christopher Venturino ,  a  stockbroker who is currently employed by Spartan Capital Securities and was formerly employed by Aegis Capital Corp. and Trident Partners, disclose a prior regulatory event, 3 pending customer disputes, 4 prior customer disputes and a recent Chapter 7 bankruptcy filing.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In July 2018 Venturino was suspended indefinitely by FINRA for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

In 11/2017 a former customer from his prior firm, Aegis Capital was paid $16,500 to resolve allegations that Venturino traded the account without permission from 11/2016-6/2017.

In 6/2017 a customer of Aegis Capital was paid $142,500 to resolve allegations that Venturino excessively traded the account and traded it without permission from 6/2014-1/2016.

The currently pending suits, by customers of Aegis Capital ,include:

  • FINRA Case 18-2948- alleges that Venturino churned their account and made unsuitable trades and seeks damages of $290,359
  • FINRA Case 18-408-alleges unauthorized trading by Venturino and unsuitable recommendations and seeks damages of $1,280,623.

Venturino discloses that he filed Chapter 7 bankruptcy in 1/2019 in the Federal Court for the Eastern District of New York.

Venturino has been employed by Spartan Capital since 4/2018.

If you have losses in an account handled by Michael Venturino, contact us for a no charge consultation to learn how you may be entitled to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870