James Bradley Schwartz, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp., is the subject of a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $269,131.00 in damages based upon allegations against Schwartz of breach of fiduciary duty, breach of contract, omissions and misrepresentations, excessive trading, unauthorized trading, and unsuitable stock recommendations.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Schwartz has been identified in five additional customer initiated investment related disputes that contain allegations of his wrongdoing while he was associated with Aegis Capital Corp and Rockwell Global Capital, LLC. Specifically, on November 16, 2012, a customer filed an investment related written complaint involving Schwartz’s conduct, in which the customer requested $24,377.92 in damages based upon allegations that he effected unauthorized over-the-counter equity trades in the customer’s account.
Subsequently, on November 9, 2016, a customer initiated investment related arbitration claim regarding Schwartz’s activities was resolved for $95,000.00 in damages based upon allegations that he made misrepresentations to the customer, breached his fiduciary obligations, negligently handled the customer’s investment portfolio, and effected unauthorized stock trades in the customer’s account.
On January 17, 2017, another customer initiated investment related arbitration claim involving Schwartz’s conduct was settled for $287,000.00 in damages, wherein the customer’s claim was based upon allegations that Schwartz made unsuitable investment recommendations to the customer, breached his fiduciary duties and effected trades in the customer’s account on an excessive basis. Further, on September 20, 2016, a customer filed an investment related written complaint regarding Schwartz’s activities, where the customer requested $2,000,000.00 in damages based upon allegations that he failed to reasonably service the customer’s account, and made unsuitable recommendations about investments effected in the customer’s account.
Subsequently, on November 30, 2016, customers pursued an investment related arbitration claim, wherein the customers collectively sought $1,200,000.00 in damages based upon allegations against Schwartz of trading in customers’ accounts without their consent and making investment recommendations that were not suitable for the customers.
Schwartz’s registration with Aegis Capital Corp. was terminated on June 30, 2016. Since July 20, 1998, the Schwartz was with almost everyone. Since July 20, 1998, Schwartz has been associated with fourteen different broker dealers, eight of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
Guiliano Law Group
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