The Securities Lawyers at Halling & Cayo, S.C. are looking into potential claims against Michael Venturino (CRD #5872439) regarding numerous accounts of unsuitability. According to public records, there have been 13 recent customer disputes against Michael Venturino accusing the broker of unsuitable investment strategies, misrepresentation, churning, fraud, breach of contract, and breach of fiduciary duty. This broker was also with AEGIS Capital Corp. from 2014-2017.
Michael Venturino has 13 customer disputes, here are the 3 most recent claims as of April 2022
Claim 1: January 2022
Allegations: The claimants allege unauthorized trading; churning; fraud and misrepresentation
Damage Amount Requested: $250,000.00
Settlement Amount: $40,000.00
Claim 2: March 2021
Allegations: The claimants allege unsuitable investments, misrepresentation, breach of financial duty, and breach of contract.
Claim 3: January 2021
Allegations: The claimants allege an unsuitable investment strategy.
Damage Amount Requested: $50,000.00
Settlement Amount: $39,000.00
If you were a client of Michael Venturino and Spartan Capital Securities and lost money in your account, we are interested in discussing a potential claim with you. Brokerage firms like Spartan Capital Securities have a responsibility to supervise all representatives who are registered through their firm. (See our video “Warning signs of a bad financial advisor”). Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. The brokerage firm is not only legally responsible for the acts of its agents, like Michael Venturino, Spartan Capital Securities may also be liable for investment losses sustained by customers for a failure to supervise. The Securities Lawyers at Halling & Cayo, S.C. have recovered millions of dollars for investors across the country. (See our video “Do I need a lawyer for my FINRA Arbitration?”). Reviewing FINRA’s Broker Check, there have been 13 complaints against Michael Venturino and Spartan Capital Securities has paid a total of $580,500 to settle those claims.
Despite some volatility surrounding Covid, the S&P 500 has gained an average of more than 19% annual returns since 2019 and yet some investors, put into overly risky trading strategies, often despite promises of guaranteed returns, have lost significant sums. The Securities Lawyers are looking to bring claims on behalf of individual(s) and/or a group of investors for recovery of their funds. Most customers will have signed a FINRA arbitration agreement to resolve disputes, including claims for reimbursement of these types of investment losses. As the SEC reminds investors, it can be important to find an attorney that “specializes in resolving securities complaints.”
If you were a customer of Michael Venturino and Spartan Capital Securities and suffered investment losses, please contact the Securities Lawyers. We only get paid if we recover your money. Your claim may be subject to a time limit or statute of limitations, so contact an attorney right away.
Sean M. Sweeney is a shareholder at Halling and Cayo, a full service law firm in Milwaukee, WI and the head of its Securities Litigation team.
He represents individual and institutional investors in FINRA arbitration and court nationwide. He recovers investment losses from fraud or breach of duty from their broker-dealer.