DID TERRY TZAGARAKIS CAUSE YOU INVESTMENT LOSSES?
Terry Tzafarakis Formerly With Arive Capital Markets, Worden Capital Management LLC and Spartan Capital Securities, LLC Has 8 Customer Complaints For Alleged Broker Misconduct
Who is Terry Tzafarakis Formerly With Arive Capital Markets?
Terry Tzafarakis (CRD #2796055) who was formerly registered with Arive Capital Markets and located in Bay Ridge, New York is a subject of one of our many securities industry sales practice abuse investigations. Prior to Arive Capital Markets, Terry Tzafarakis was associated with Worden Capital Management LLC, Spartan Capital Securities, LLC and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Terry Tzafarakis has had his own regulatory problems, in fact, there been 3 regulatory actions arising from his alleged misconduct. In 2023. It was suspended for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to FINRA request for him to provide information concerning the status of compliance. In 2022, while associated with Spartan Capital Securities. He consented to sanctions and to the entry of findings that admitting or denying the allegations that he excessively traded the customer’s accounts. He allegedly exercised de facto control of a customer’s accounts and his trading resulted in a high annualized turnover rate ranging from 17.3 to 33.4, and a cost-to-equity ratios ranging from 67% 275%. In 2021, he consented to sanctions and to the entry of findings that he willfully failed to timely amend his form U4 to disclose outstanding federal tax liens, and an outstanding New York State tax lien. According to his most recent BrokerCheck report, he has 10 pending liens.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Terry Tzafarakis Customer Complaints
Terry Tzafarakis has been the subject of 8 customer complaints that we know about seeking to recover investment losses. One customer complaint evolved into a FINRA arbitration proceeding, and an award being entered against him for over $1.2 million in compensatory damages plus interest. Four more customer complaints were settled by his former employers in favor of the investors for Terry Tzafarakis’ alleged misconduct. Only 2 of the customer complaints were denied by the brokerage firms and the investor took no further action. There is currently one FINRA arbitration proceeding claiming damages of over $6.6 million filed against Spartan Capital Securities for the advisors alleged misconduct that is still pending.
Allegations Against Terry Tzafarakis
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Churning, unsuitable investments, and unauthorized investments.
- Unauthorized trading, churning, and suitability.
- Excessive and unauthorized trading.
- Failure to enter stop loss order.
- Unauthorized use of margin in customer’s account.
Terry Tzafarakis Red Flags & Your Rights As An Investor
Of course, Terry Tzafarakis did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Terry Tzafarakis at Arive Capital Markets, Worden Capital Management LLC and Spartan Capital Securities, LLC on alert to review carefully the activity and performance of their accounts and question whether Terry Tzafarakis has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Arive Capital Markets, Worden Capital Management LLC and Spartan Capital Securities, LLC also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Arive Capital Markets Due To Terry Tzafarakis
If you have questions about Arive Capital Markets, Worden Capital Management LLC, Spartan Capital Securities, LLC and/or Terry Tzafarakis and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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