The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Terry Tzagarakis (also known as Terry Rakis) (CRD: 2796055, New York, New York). Not only has FINRA sanctioned him for engaging in excessive trading, but investors disputed his sales practices. However, Tzagarakis denies the allegations. Read on to learn more about the allegations against Tzagarakis.
FINRA Sanctions Tzagarakis For Excessive Trading
Supposedly, on October 14, 2022, FINRA issued Acceptance, Waiver, and Consent No. 2018056490305 sanctioning Terry Tzagarakis for infractions. Specifically, Tzagarakis was fined $10,000 and suspended for 1 year as a securities broker. Notably, FINRA alleged that Tzagarakis engaged in excessive trading.
Terry Tzagarakis Discloses Churning Allegations By Spartan Capital Securities LLC Client
Particularly, a client of Spartan Capital Securities LLC contested Terry Tzagarakis’ sales practices by filing FINRA Arbitration: 18-03407. Allegedly, Tzagarakis churned accounts, gave unsuitable advice, and engaged in unauthorized trading. It appears that Tzagarakis caused the client to sustain damages on stocks and over-the-counter equities. Therefore, Spartan Capital Securities LLC opted to settle the matter on December 16, 2021, by compensating the client in the amount of $30,000.
Spartan Capital Securities LLC Investor Accuses Tzagarakis Of Churning
Supposedly, on December 10, 2021, a Spartan Capital Securities LLC client filed FINRA Arbitration: 21-02950 about Terry Tzagarakis. Namely, the client alleged that Tzagarakis churned accounts, made unsuitable recommendations, breached a fiduciary duty, made misrepresentations, and engaged in unauthorized trading. Because of this, the client allegedly sustained damages on stocks and private placements. Therefore, the client requested $1,240,169.28 in compensation from Spartan Capital Securities LLC or Tzagarakis. Evidently, this arbitration is pending a resolution.
Notably, FINRA issued Acceptance, Waiver, and Consent No. 2019061510101 on January 4, 2021, sanctioning Terry Tzagarakis for infractions. Allegedly, Tzagarakis failed to make disclosures of tax liens. Therefore, Tzagarakis was fined $5,000 and suspended for 3 months as a securities broker.
Spartan Capital Securities LLC Investor Accuses Tzagarakis Of Unsuitable Recommendations
Supposedly, on September 27, 2018, a Spartan Capital Securities LLC client filed FINRA Arbitration: 18-03407 about Terry Tzagarakis. Namely, the client alleged that Tzagarakis gave unsuitable advice, churned accounts, and engaged in unauthorized trading. Because of this, the client allegedly sustained damages on stocks. Therefore, the client requested $6,645,956 in compensation from Spartan Capital Securities LLC or Tzagarakis. Evidently, this arbitration is pending a resolution.
Tzagarakis worked for Spartan Capital Securities LLC in New York, New York, as a securities broker from January 10, 2013, to April 6, 2020.
Did Spartan Capital Securities LLC Securities Broker Terry Tzagarakis Cause You To Experience Damages?
Have you experienced damages because of Terry Tzagarakis? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a possible recovery of your losses. Soreide Law Group, who has successfully recovered money for hundreds of investors throughout the United States, represents investors on a contingency fee basis and advances all costs. Tzagarakis and brokerage firms Tzagarakis worked for deny any and all allegations of sales practice violations.
