Spartan Capital Sued By Customer For Churning
Joseph Paul Todaro of Garden City New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $184,241.00 in damages supported by allegations that (1) excessive commissions had been charged to the customer for trades effected in the customer’s account (2) fiduciary duties owed to the customer had been breached and (3) the customer’s equity portfolio was churned. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02818 (Nov. 22, 2017).
FINRA Public Disclosure confirms that a customer filed an investment related arbitration claim concerning Todaro’s activities where the customer requested $82,699.00 in damages founded on accusations of excessive commissions and churning in reference to the customer’s stock account. Arbitration No. 20170558866 (Sept. 27, 2017).
Todaro’s registration with Spartan Capital Securities LLC was terminated on March 27, 2018. Todaro became employed by Worden Capital Management LLC on March 5, 2018. Since February 2, 2012, Todaro has been associated with five different broker dealers, three of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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