Tag Archives: aegis capital

Aegis Capital Corp, Broker Discloses Personal Bankruptcy, Failure to Supervise, Finra Investigation of Stockbroker, Misrepresentation, Spartan Capital Securities, Stockbroker Malpractice, Trident Partners, Unsuitable Investments

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

Aegis Capital Corp, Malcolm Segal, Stockbroker Malpractice

Update on Former Aegis Capital Broker Malcolm Segal Investigation

According to FINRA records, Malcolm Segal of Langhorne, Pennsylvania and Boynton Beach, FL, was discharged by Aegis Capital Corporation on July 28, 2014. The following comment was entered by Aegis on the FINRA records:

“Mr. Segal failed to cooperate with an internal investigation into a customer complaint alleging that in December 2013, Mr. Segal, on an unauthorized basis, transferred monies via wire from the client’s account.”

FINRA records also reveal that on July 9, 2014, a customer of Segal located in Pennsylvania alleged that $225,000 was transferred from his account without his authorization.

If you had an account with Malcolm Segal and have suffered losses, call to discuss your legal options.

Nationwide representation. Contingent fee.

Rex Securities Law

561 391 1900

Aegis Capital Corp, Brokerage Firms, Coker & Palmer, Elder Financial Abuse, Failure to Supervise, FINRA, Merrimac Corporate Securities, Reg D Offerings(private placements), Securities, Securities Regulators, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Former Broker Michael A. Barina Fined/Suspended by FINRA

 

FINRA announced in November 2013 that former broker Michael Anthony Barina of Longwood Florida, submitted a Letter of Acceptance, Waiver and Consent in which he was fined d$12,500 and suspended for three months. The findings indicate that Barina recommended to customers an investment in private placement pool, when he did not have a complete and sufficient understanding of the investment strategy. The investment strategy and parameters permitted it to invest up to 25% of its assets in a single security and permitted option trading.
Barina lacked a reasonable basis to believe that the entity was a suitable investment for customers, making the recommendation unsuitable.
According to FINRA records, Barina is not currently registered and was previously registered with the following broker dealers:
  • Merrimac Corporate Securities5/2013-10/2013
  • Aegis Capital Corp. 11/2011-5/2013
  • Coker & Palmer11/2009-11/2011
Brokers have a duty to make suitable recommendations and are required to take into account the age, health and financial sophistication of their customers. If you have suffered losses in your brokerage account and feel the investments were unsuitable, call to discuss your legal rights with an experienced securities attorney.

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900