DID MICHAEL CHRISTOPHER BLUMER CAUSE YOU INVESTMENT LOSSES?
Michael Blumer Formerly With Spartan Capital Securities, LLC Has 4 Customer Complaints For Alleged Broker Misconduct
About Michael Blumer formerly with Spartan Capital Securities, LLC?
Michael Blumer (CRD #4861312) has a diverse history in the securities industry but is not currently registered. Throughout his career, Blumer has worked with multiple firms, including Spartan Capital Securities, SW Financial, and Woodstock Financial Group, among others, totaling at least twelve different firms based on registration records. He has passed 2 general industry/product exams and 1 multi-state securities law exam. Notably, he has not passed any principal/supervisory exams. His registrations have spanned from states like New York to North Carolina, indicating a broad geographic scope of operations.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Michael Blumer Customer Complaints and Reviews
Michael Blumer has several negative disclosures on his record:
- Civil Event (1 pending): Initiated by the U.S. Securities and Exchange Commission on September 28, 2023, this ongoing case alleges excessive trading and unsuitable investment recommendations during August 2018 through June 2022, potentially resulting in penalties including fines and disgorgement.
- Customer Disputes (4 total, 2 pending, 1 final award, 1 no action): Claims include allegations of unsuitable investments, excessive trading, and unauthorized transactions. One dispute resulted in an arbitration award against Blumer for $48,600 on October 7, 2021. The two pending disputes involve claims of negligence and excessive trading/commissions with damages alleged up to $117,150.
Allegations Against Michael Blumer
- Regulatory Actions:
- None listed specifically beyond involvement in civil litigation by the SEC for excessive trading and failure to act in clients’ best interest.
- Customer Complaints:
- Various complaints over the years ranging from unauthorized trading to churning and fraud. One resolved with an arbitration award against Blumer, two are pending resolution.
- Terminations:
- No specific terminations related to the infractions listed but multiple short stints at various firms could indicate issues not explicitly detailed in this report.
- Financial Disclosures:
- None reported in the provided documents.
Michael Blumer Red Flags & Your Rights As An Investor
Of course, Michael Blumer 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 Michael Blumer at Spartan Capital Securities, LLC on alert to review carefully the activity and performance of their accounts and question whether Michael Blumer 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 Michael Blumer
If you have questions about Spartan Capital Securities, LLC and/or Michael Blumer 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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