Category Archives: Spartan Capital Securities

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

Marc Reda-Spartan Capital Broker-Discloses Settlement of Numerous Customer Suits

February 2019

According to FINRA records,  Marc A. Reda , a broker who is currently employed by Spartan Capital Securities, discloses 10 prior customer disputes a prior regulatory event, 2 terminations from employment , a currently outstanding judgment/lien, and a personal 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 June 2017, without admitting or denying the findings, Marc Reda consented to a fine of $5,000 and a three month suspension. FINRA found that he exercised discretion in customer accounts without written authorization from the customers and that he failed to timely disclose on FINRA Form U4 a federal tax lien filed against him in the amount of $575,101.

The prior customer disputes include the following settlements:

  • IN 8/2017 a customer of PHX Financial was paid $45,000 to resolve allegations that Marc Reda charged excessive commissions and mismanaged the customer’s account.
  • FINRA Arbitration 16-1461-a customer of his prior employer PHX FInancial alleged breach of fiduciary duty and unsuitable recommendations, seeking damages of $100,000. That case was settled in 7/2016 for $26,000.
  • In 4/2016 a customer of PHX Financial alleged that Reda traded his account without authority and breach of fiduciary responsibility, seeking damages of over $500,000. That case was settled in 5/2016 for $85,000.
  • In 3/2016 a customer of his prior employer Phoenix Financial Services alleged that beginning in 11/2015 Reda failed to follow the customer’s instructions, made trades without authority and over concentrated investments causing damages of $500,000. That case was settled in 6/2016 for $112,500.
  • In 1/2016 a customer of Phoenix Financial Services alleged that Reda made unauthorized trades in her account causing damages of $400,000. That case was settled in 2/2016 for $120,000.

According to FINRA records, Reda  has been registered with Spartan Capital Securities  since 5/2016. Reda was registered with First Standard Financial from 2/2016-5/2016. Prior to that he was registered with PHX Financial from 10/2014-1/2016 and with Laidlaw & Company from 11/2013-10/2014.

In 1/2016 Marc Reda was “permitted to resign” from PHX Financial for alleged  violations of firm policy.

FINRA records disclose an Internal Revenue Service lien filed in the Supreme Court of Richmond County, New York,  against Reda in the amount of $575,101. In December 2017 Reda filed for Chapter 7 bankruptcy in US Bankruptcy Court in the Eastern District of New York.

If you have losses in an account handled by Marc A. Reda contact us to learn how you may be able 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

Mack L. Miller-Former Dawson James Securities Broker-Discloses Separation from Employment-NY

May 2017-New York

The FINRA records of  Mack L. Miller  ,  a  stockbroker who is currently  registered with Spartan Capital Securities  disclose two  prior customer disputes, a separation from employment and 2 currently outstanding judgment/liens .

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 April 2017 Mack Miller was ‘permitted to resign’ from Dawson James Securities. The company made the following allegation on Miller’s FINRA record: “Rep had called a prospective customer in a state where he was not registered”. 

Mack Miller  has been employed by Spartan Capital Securities  since 4/2017. He was employed by Dawson James Securities  from 5/2016-4/2017 , Lampert Capital Markets from 11/2015-5/2016 and Viewtrade Securities 8/2015-11/2015.

If you have questions about an account  handled by Mack L. Miller  , contact us 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

Tyre F. Newsome-Former Cape Securities Broker-Discloses Termination and Outstanding IRS Lien-New York

July 2017-New York

According to publicly available records Tyre F. Newsome , (CRD# 4812894) ,  a   stockbroker who is  currently registered with Windsor Street Capital , disclose  a prior customer dispute, an outstanding judgment lien 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.

Public records reveal that in April 2016, Tyre Newsome was ‘permitted to resign’ by his employer Garden State Securities who alleged that Newsome made unsuitable recommendation to a senior investor and made an inappropriate recommendation to utilize margin.

Newsome discloses that there is an outstanding judgement or lien against him for $32,094 in favor of the Internal Revenue Service.

Newsome  is currently employed by Windsor Street Capital. His prior employment includes:

  • Cape Securities                            6/2016-3/2017
  • Spartan Capital Securities    4/2016-5/2016
  • Garden State Securities          7/2015-4/2016
  • Meyers Associates                      9/2013-5/2015
  • Aegis Capital                                    7/2013-8/2013
  • Maxim Group                                  3/2013-6/2013
  • Caldwell International Securities         7/2010-7/2011
  • Meyers Associates
  • Maximum Financial Investment Group
  • Avalon Partners
  • Great Eastern Securities

If you have losses  in an account handled by Tyre Newsome, 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