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How to Bring a Claim Against Spartan Capital Securities, LLC Broker Joseph Kelly

Posted on Monday, November 9th, 2020 at 11:14 pm    

Spartan Capital Securities

Spartan Capital Securities, LLC broker Joseph Kelly (CRD# 4560737) faces multiple customer complaints for investment losses. Kelly has been registered with Spartan Capital Securities, LLC in New York, New York since 2017. 

Kelly has been the subject of four customer complaints between 2016 and 2020, according to his CRD report:

July 2020. “Unsuitable investment.” The customer is seeking $50,000 in damages and the case is currently pending. The complaint was regarding private placements

January 2020. “Time Frame: No time frame mentioned/associated with individual claimant in Statement of Claim (SOC). Allegations: Alleging misrepresentation and unsuitable recommendations.” The customer is seeking $529,411 in damages and the case is currently pending. 

September 2018. “Allegation the investments were unsuitable, losses in investments and churning.” The customer is seeking $1,082,641 in damages and the case is currently pending. The complaint was regarding common and preferred stocks and equity OTC.

April 2016. “Claimant alleges misrepresentations,and excessive trading.” The customer sought $450,000 in damages and the case was settled for $225,365. The complaint 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 Kelly’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.