Jason M. Santini of Garden City New York a stockbroker formerly employed by Spartan Capital Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $655,000.00 in damages supported by accusations that (1) Santini violated his fiduciary duties to the customer (2) Santini effected transactions in the customer’s account that failed to be suitable for the customer (3) Santini churned the customer’s over-the-counter equities positions (4) Santini violated federal securities laws and (5) Santini committed fraud while registered with Spartan Capital Securities LLC. FINRA Arbitration No. 18-00625 (Feb. 22, 2018).
FINRA Public Disclosure reveals that Santini is referenced in two additional customer initiated investment related disputes containing allegations of his unacceptable conduct when he was employed by Blackbook Capital LLC and Spartan Capital Securities LLC. Particularly, a customer initiated investment related arbitration claim regarding Santini’s conduct was settled to resolve accusations that fiduciary duties owed to the customer had been breached; misrepresentations had been made to the customer in regards to the terms and conditions of equity investments; investment recommendations failed to be suitable for the customer; and the customer had been defrauded as a result of the common or preferred stock transactions placed in the customer’s account when Santini was associated with Blackbook Capital LLC. FINRA Arbitration No. 15-00994 (May 30, 2016).
Moreover, a customer initiated investment related arbitration claim involving Santini’s activities was settled to resolve allegations that when Santini was employed by Spartan Capital Securities, the customer’s account had been handled with poor care; fiduciary obligations were violated; margin had been used without the customers permission; and the customer’s investment had been over-concentrated in speculative equity products. FINRA Arbitration No. 16-03109 (Apr. 12, 2018).
Santini’s employment with Spartan Capital Securities LLC has been terminated as of July 7, 2016. Between July 7, 2016 and March 31, 2017, Santini was registered with Joseph Stone Capital LLC, and between September 4, 2018 and November 9, 2018, Santini was associated with SW Financial. Santini has been associated with at least three different securities broker dealers which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
