Soreide Law Group is investigating possible investor claims against securities broker Ed Maklouf (also known as Ahmad Mohamed Maklouf) [CRD: 6092943, New York, NY]. Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck disclosed that investors complained about the securities broker, who worked for Spartan Capital Securities LLC. Notably, investors allege sales practice violations in these disputes, including that Ed Maklouf made unsuitable recommendations, failed to supervise registered representatives, breached a fiduciary duty, and breached a contract. Here is a brief summary of the disclosures about Ed Maklouf. However, keep in mind that Maklouf denies the allegations.
Evidently, on December 6, 2022, a Spartan Capital Securities LLC client filed FINRA Arbitration: 22-02746 about Ed Maklouf. Namely, the client alleged that Maklouf made unsuitable recommendations, failed to supervise registered representatives, breached a fiduciary duty, and breached a contract. Because of this, the client allegedly sustained damages. Therefore, the client requested $72,421.38 in compensation from Spartan Capital Securities LLC or Maklouf. Evidently, the broker denies the allegations.
Also, a Spartan Capital Securities LLC client filed FINRA Arbitration: 19-03740 about Ed Maklouf. Namely, the client alleged that Maklouf made misrepresentations to the client and made unsuitable investment recommendations. Because of this, the client allegedly sustained damages. Therefore, on February 22, 2022, Spartan Capital Securities LLC settled this matter by paying the client $14,000 in damages. However, the firm and securities broker admit no liability in this settlement.
Additionally, a client of Spartan Capital Securities LLC contested Ed Maklouf’s sales practices by filing FINRA Arbitration: 21-02950 on December 10, 2021. Allegedly, Maklouf churned accounts, made unsuitable recommendations, breached a fiduciary duty, breached a contract, made misrepresentations to the client, engaged in unauthorized trading, and failed to supervise registered representatives. It is alleged that Maklouf caused the client to sustain damages on stocks and private placements. Therefore, the client asked for compensatory relief from Spartan Capital Securities LLC or Maklouf in the amount of $350,343.10 in this dispute, which is ongoing.
Also, a Worden Capital Management LLC client filed FINRA Arbitration: 21-00915 about Ed Maklouf. Namely, the client alleged that Maklouf made unsuitable recommendations, charged excessive commissions, and churned accounts. Because of this, the client allegedly sustained damages on stocks. Therefore, on September 16, 2021, Worden Capital Management LLC settled this matter by paying the client $5,000 in damages. However, the firm and Maklouf admit no liability.
Evidently, a client of Legend Securities Inc. contested Ed Maklouf’s sales practices by filing FINRA Arbitration: 20-01325. Allegedly, Maklouf made unsuitable recommendations, overconcentrated accounts in certain investments, and engaged in excessive trading. It is alleged that Maklouf caused the client to sustain damages. Therefore, Legend Securities Inc. opted to settle the matter on August 14, 2020, by compensating the client in the amount of $7,499.99.
Also, on March 11, 2020, a Worden Capital Management LLC client filed FINRA Arbitration: 20-00801 about Ed Maklouf. Namely, the client alleged that Maklouf made unsuitable recommendations, breached a fiduciary duty, breached a contract, made misrepresentations to the client, and made omissions of material fact. Because of this, the client allegedly sustained damages on over-the-counter equities and stocks. Therefore, the client requested $414,744 in compensation from Worden Capital Management LLC or Ed Maklouf. Evidently, the broker denies the allegations.
Did you incur damages by investing with Maklouf? Reach out to Soreide Law Group at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has effectively recovered funds for hundreds of investors in the United States, represents clients on a contingency fee basis and advances all costs. The firm will take the time to fully understand your situation and will carefully explain your legal options. Maklouf and brokerage firms Maklouf worked for deny any and all allegations of sales practice violations.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com