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Were You a Victim of New York Broker Joseph Todaro?

Posted on Tuesday, July 27th, 2021 at 2:36 pm    

Joseph Todaro

Erez Law is currently investigating New York broker Joseph Todaro (CRD# 5708585) who received multiple customer complaints. Todaro has been registered with SW Financial in Melville, New York since 2020. Previously, Todaro was registered with Worden Capital Management LLC in Melville, New York from 2018 to 2020 and with Spartan Capital Securities, LLC in Garden City, New York from 2016 to 2018. Prior to that, Todaro was registered with:

  • Laidlaw & Company (Uk) Ltd. in Melville, New York from 2015 to 2016
  • Craig Scott Capital, LLC in Uniondale, New York in April 2015
  • Rockwell Global Capital LLC in Melville, New York from 2012 to 2015

Todaro has been the subject of four customer complaints between 2017 and 2020, according to his CRD report:

April 2021. “Poor Performance; failure to follow instructions; poor service; and, excessive trading from June 2020 to July 2020.” The customer is seeking $206,000 in damages and the case is currently pending. The complaint took place while Todaro was registered with Worden Capital Management LLC and was regarding equity OTC and common and preferred stocks. 

May 2018. “Client alleges churning, unauthorized and unsuitable trading from 2015-2017.” The customer sought $15,775 in damages and the case was settled for $14,000. The complaint was regarding common and preferred stocks and equity OTC, and it took place while Todaro was registered with Laidlaw & Company (Uk) Ltd. 

November 2017. “Churning, breach of fiduciary duty, and excessive commissions were alleged against respondents, all of whom denied all allegations in their entirety.” The customer is seeking $184,241 in damages and the case was settled for $60,000. The complaint was regarding common and preferred stocks and took place while Todaro was registered with Spartan Capital Securities, LLC.

September 2017. “Churning; excessive commissions.” The customer sought $82,699 in damages and the case was settled for $14,800. The complaint took place while Todaro was registered with Rockwell Global Capital 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, Worden Capital Management LLC, Laidlaw & Company (Uk) Ltd., Spartan Capital Securities, LLC, and Rockwell Global Capital LLC may be liable for investment or other losses suffered by Todaro’s 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.