John Alexander Tarpinian of New York New York a stockbroker formerly employed by Paulson Investment Company LLC and Newport Coast Securities Inc. has been identified in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that between February of 2013 and March of 2019, a fiduciary duty that was owed to the customer had been breached and that the customer was defrauded in reference to corporate debt trades executed by Tarpinian. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03162 (May 7, 2020).
According to the claim, the customer’s account had been negligently supervised by Paulson and Newport. The claim also alleges that a contract had been breached and that the transactions facilitated in the customer’s account had failed to be suitable for the customer.
FINRA Public Disclosure reveals that Tarpinian has been identified in eleven additional customer initiated investment related disputes concerning accusations of his misconduct when the stockbroker was employed by securities broker dealers including Paulson and Newport. On June 30, 2016, customers filed an investment related complaint in reference to Tarpinian’s conduct where the customers sought $20,000.00 in damages based upon accusations that they had received an unbalanced and unfair assessment of the risks of corporate debt securities sold by Tarpinian at Newport.
Tarpinian is also the subject of a customer initiated investment related written complaint which was settled on October 2, 2018 for $13,873.43 based upon allegations that the customer had been poorly advised by Tarpinian with regard to bonds held in the customer’s accounts at Paulson and Newport in 2017. On October 2, 2018, another customer initiated investment related complaint involving Tarpinian’s conduct was settled for $17,327.39 in damages based upon allegations of unsuitable investment advice by Tarpinian from September of 2017 to November of 2017.
On May 7, 2020, another customer initiated investment related arbitration claim concerning Tarpinian’s activities was resolved for $55,000.00 in damages founded on accusations that from August of 2015 to May of 2019, trades were executed in the customer’s account without supervision from Paulson and Newport. The claim alleges that the stockbroker’s trades were in no way suitable. According to the claim, contractual and fiduciary obligations were violated resulting in the customer’s losses. FINRA Arbitration No. 19-01009 (May 7, 2020).
Tarpinian is also referenced in a customer initiated investment related arbitration claim which was settled for $15,000.00 in damages supported by allegations of the breach of a fiduciary duty and breach of a contract that was entered into by the customer and Paulson and Newport concerning the customer’s investments in corporate debt products. FINRA Arbitration No. 19-01165 (May 7, 2020). According to the claim, the customer’s account had been poorly supervised between March of 2013 and April of 2020. Transactions were allegedly fraudulent and unsuitable.
Tarpinian has also been fined $25,000.00 by Securities and Exchange Commission (SEC) and ordered by the regulator to cease and desist violating federal securities laws based upon accusations that Tarpinian charged undisclosed mark-downs and mark-ups to customers and had obtained $50,000.00 from customers in violation of Investment Advisers Act Section 206(3). In the Matter of John Tarpinian Administrative Proceeding File No. 3-18337. According to the regulator, customers had not been apprised that Tarpinian was acting as a principal in their transactions. The stockbroker did not procure consent from his Newport customers concerning those principal trades.
Tarpinian’s employment with Paulson was terminated on September 7, 2018.