GREGORY WASHINGTON Churn Your Account?

GREGORY WASHINGTON Churn Your Account?

Have you invested with Spartan Capital Securities LLC securities broker Gregory Washington (CRD#: 5420613, New York, New York)? Notably, the Financial Industry Regulatory Authority (“FINRA”) shows that an investor disputed Gregory Washington’s sales practices. Allegedly, person churned accounts, made unauthorized and unsuitable trades, and misrepresented investments. Here is more about the dispute:

Spartan Capital Client Files Arbitration Suggesting Gregory Washington Churned Accounts

 
Evidently, Gregory Washington worked at Spartan Capital Securities LLC in New York, New York from August 18, 2010 to February 5, 2016. While there, he serviced the account of a client who complained about his sales practices causing the client investment losses. Therefore, the client brought FINRA Arbitration #:18-03407 on October 7, 2018 to recover those losses.
First, the client claimed that Gregory Washington made unauthorized trades in the client’s Spartan Capital account. Secondly, Washington allegedly churned the client’s account. In other words, Washington potentially traded the client’s investments mainly to generate commissions, disregarding the client’s interests. Thirdly, the client claimed that Washington gave poor recommendations about private placements. Finally, Washington allegedly misrepresented investments, leading the client to authorize investments transactions that the client would not otherwise have. Because of these alleged sales practice infractions concerning the client’s private placement investments, the client demanded $1,661,489 in compensation. This matter is pending a resolution.

Soreide Law Group Evaluating Investor Claims Against Gregory Washington

FINRA BrokerCheck shows  that Washington has also been registered through Aegis Capital Corp (2016 – 2017) and Merrill Lynch (2018 – present). Did Gregory Washington cause you losses? Contact Soreide Law Group at (888) 760-6552. Talk with experienced counsel about a potential recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.