Ahmad Mohamed Maklouf (also known as Ed Maklouf) of New York, New York, a stockbroker currently registered with Spartan Capital Management LLC, is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $350,343.10 in damages based upon allegations that Maklouf churned accounts, breached a fiduciary duty, made unsuitable and unauthorized transactions, made misrepresentations, and failed to supervise in connection with the recommendation and sale of over-the-counter equities and private placements during the time that Makalouf was associated with Spartan Capital Management LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02950 (December 10, 2021).
This is not the first time that Makalouf has been referenced in a customer initiated investment related dispute concerning Makalouf’s activities in the securities industry. FINRA Ahmad Mohamed Maklouf shows that Makalouf is also referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $414,744.00 in damages based upon accusations that Maklouf breached a fiduciary duty, made omissions and misrepresentations, breached a contract, made unsuitable transactions, and churned the customer’s account in connection with the sale of over-the-counter equities and stocks when Makalouf was associated with Worden Capital Management LLC. FINRA Arbitration No. 20-00801 (March 11, 2020).
On August 14, 2020, another customer initiated investment related FINRA securities arbitration claim involving Makalouf’s conduct was settled for $7,499.99 in damages based upon allegations that Maklouf made unsuitable and excessive transactions and overconcentrated the customer’s account in certain securities when Makalouf was associated with Legend Securities Inc. FINRA Arbitration No. 20-01325.
Makalouf is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $14,000.00 in damages based upon accusations that Maklouf made misrepresentations and unsuitable recommendations in connection with the sale of investments during the time that Makalouf was associated with Spartan Capital Management LLC. FINRA Arbitration No. 19-03740 (February 22, 2022).
Makalouf has been registered with Spartan Capital Management LLC since August 15, 2017. Since June 11, 2014, Makalouf has been associated with three different broker dealers, two of which were expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
