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Erez Law Investigates Former Aegis Capital Corp. Broker Pratul Agnihotri

Posted on Wednesday, December 11th, 2019 at 3:41 pm    

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There are options for customers of former Aegis Capital Corp. broker Pratul Agnihotri (CRD# 4031797) who suffered investments losses. Agnihotri has been registered with SW Financial in Melville, New York since July 2019. Previously, Agnihotri was registered with Spartan Capital Securities, LLC in New York, New York from 2017 to 2019 and previously with Aegis Capital Corp. in Melville, New York from 2010 to 2017.

In October 2019, FINRA recommended that disciplinary action be brought against Agnihotri, alleging that Agnihotri made potential violations, including conversion of investor funds and engaging in an outside business activity without providing prior written notice to your FINRA member employer firms.

Agnihotri has been the subject of three customer complaints between 2005 and 2019, one of which was denied, according to his CRD report. The most recent complaint is regarding:

October 2019. “Time frame: December 2013 to present. Claimant alleges unauthorized trading, failure to follow instructions, negligence, selling away, breach of fiduciary duty.” The customer is seeking $650,000 in damages and the case is currently pending. The complaint took place while Agnihotri was registered with Aegis Capital Corp.

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, Aegis Capital Corp. may be liable for investment or other losses suffered by Agnihotri’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.