Investors File Disputes About Ed Maklouf

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.

Spartan Capital Securities LLC Investor Accused Maklouf Of Breach Of Fiduciary Duty

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.

Ed Maklouf Disclosed Misrepresentation Allegations By Spartan Capital Securities LLC Client

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.

Spartan Capital Securities LLC Investor Accused Maklouf Of Churning

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.

Ed Maklouf Disclosed Churning Allegations By Worden Capital Management LLC Client

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.

Legend Securities Inc. Investor Accused Maklouf Of Overconcentration

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.

Worden Capital Management LLC Investor Accused Ed Maklouf Of Breach Of Contract

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.

Maklouf Employment Information

• Maklouf worked for Spartan Capital Securities LLC in New York, NY, as a securities broker from August of 2017 to December of 2022.
• Maklouf worked for Worden Capital Management LLC in New York, NY, as a securities broker from November of 2016 to September of 2017.

Damages Resulting From Spartan Capital Securities LLC Securities Broker Ed Maklouf?

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.