Erez Law is currently investigating former Spartan Capital Securities, LLC broker Terry Tzagarakis (CRD# 2796055) regarding stock losses. Terry Tzagarakis was registered with Arive Capital Markets in Bay Ridge, New York from May 2020 to January 2021. Previously, Terry Tzagarakis was registered with Worden Capital Management LLC in New York, New York from March to May 2020 and with Spartan Capital Securities, LLC in New York, New York from 2013 to 2020.
In January 2021, FINRA suspended Terry Tzagarakis for three months and fined him $5,000 after he, “Without admitting or denying the findings, Tzagarakis consented to the sanctions and to the entry of findings that he willfully failed to timely amend his Form U4 to disclose outstanding federal tax liens, and an outstanding New York State tax lien. The findings stated that one of the federal tax liens was disclosed approximately five months late, while the other federal and state tax liens were disclosed approximately two years after being filed.
Terry Tzagarakis Faces $6 Million-Plus Customer Complaint
Terry Tzagarakis has been the subject of six customer complaints between 2001 and 2018, two of which were denied, according to his CRD report. The most recent complaint is regarding
September 2018. “Allegations of Churning, most investments were not suitable and most were not authorized.” The customer is seeking $6,645,956 in damages and the case is currently pending. The complaint took place while Terry Tzagarakis was registered with Spartan Capital Securities, LLC and was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Spartan Capital Securities, LLC may be liable for investment or other losses suffered by Terry Tzagarakis’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.