John Joseph Stapleton of Garden City New York a stockbroker currently employed by Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $500,000.00 in damages supported by allegations of inappropriate common or preferred stocks Stapleton sold or recommended while the stockbroker was associated with Spartan Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03267 (Nov. 19, 2019).
FINRA Public Disclosure confirms that Stapleton is referenced in four additional customer initiated investment related disputes in regard to the stockbroker’s violative conduct during the period in which he was employed by securities broker dealers including Craig Scott Capital LLC as well as Spartan Capital. Specifically, a customer initiated investment related arbitration claim pertaining to Stapleton’s activities resulted in the customer being awarded $20,600.00 in compensatory damages based upon Stapleton being found liable on the customer’s claims which included that when he was registered with the securities broker dealer, common or preferred stocks transactions were unsuitable. FINRA Arbitration Award No. 16-03645 (Oct. 2, 2017).
Another customer filed an investment related arbitration claim concerning Stapleton’s conduct in which the customer sought $299,000.00 in damages founded on accusations that during the period that Stapleton was associated with Craig Scott Capital, common or preferred stocks transactions were unsuitable in view of the customer’s risk aversion or other needs; trades were effected in the customer’s account in an excessive manner; and the customer’s investment portfolio was churned by the stockbroker causing the customer to experience losses. FINRA Arbitration No. 18-02098 (Aug. 5, 2019).
Stapleton has also been fined $10,000.00 and suspended by National Association of Securities Dealers (NASD) from associating with any NASD member in any capacity based on his consent to findings that the stockbroker engaged in a fraudulent scheme violative of Securities Exchange Act of 1934 Section 10(b); SEC Rule 10b-5; and NASD Rules 2110, 2860, 2310 and 2120 in reference to options that Stapleton advised the customer on while the stockbroker was employed by Continental Broker Dealer Corp. Department of Enforcement v. John J. Stapleton Decision and Order of Offer of Settlement No. E9B2003033501.
Stapleton has been registered with Spartan Capital Securities since November 4, 2015.
