DID JOSEPH C DESAPIO CAUSE YOU INVESTMENT LOSSES?
Joseph Desapio Formerly With Spartan Capital Securities, LLC Has 2 Customer Complaints For Alleged Broker Misconduct
About Joseph Desapio of Spartan Capital Securities, LLC?
Joseph Desapio (CRD #5837553) has been involved in the securities industry across various firms, primarily located in New York. His previous registrations include Spartan Capital Securities, LLC, Worden Capital Management LLC, and Legend Securities, Inc., spanning from August 2010 until his last registration which ended in July 2022. Desapio has passed two general industry/product exams, the Securities Industry Essentials Examination and the General Securities Representative Examination, as well as one multi-state securities law exam, the Uniform Securities Agent State Law Examination. His career in the financial sector shows a range of experience across several brokerage firms.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Joseph Desapio Customer Complaints and Reviews
Joseph Desapio’s disclosure records reveal multiple negative events
- Regulatory Events (2 reported):
- Finalized on March 8, 2024, involving unsuitable trades and unauthorized borrowing from a client, leading to a 15-month suspension.
- Another regulatory action concluded on July 24, 2023, due to failure to comply with an arbitration award or settlement agreement.
- Customer Disputes (2 reported):
- Settled dispute involving allegations of breach of fiduciary duty, negligence, and churning from 2017 to 2019, settled for $70,000 in January 2023.
- Another pending dispute with unspecified damages related to similar allegations during the same period.
- Termination (1 reported):
- Discharged by Spartan Capital Securities, LLC in June 2022 after an arbitration notice revealed unauthorized borrowing from a client.
Allegations Against Joseph Desapio
- Regulatory Actions:
- Willful violation of securities regulations by engaging in unsuitable trades that heavily cost his clients and unauthorized borrowing from a client.
- Failure to comply with regulatory requirements regarding arbitration settlements.
- Customer Complaints:
- Allegations of breaching fiduciary duties, negligence, and engaging in excessive trading (churning) that led to significant client losses.
- Termination Details:
- Unauthorized financial dealings that violated firm policies, specifically borrowing funds from a client without notification or approval.
Joseph Desapio Red Flags & Your Rights As An Investor
Of course, Joseph Desapio 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 Joseph Desapio at Spartan Capital Securities, LLC on alert to review carefully the activity and performance of their accounts and question whether Joseph Desapio has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at 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 Spartan Capital Securities, LLC Due To Joseph Desapio
If you have questions about Spartan Capital Securities, LLC and/or Joseph Desapio 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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