Joseph Kelly (also known as Joe Kelly) of New York, New York, a stockbroker currently registered with Spartan Capital Securities LLC, is identified in a customer initiated investment related FINRA arbitration claim in which the customer requested $844,107.44 in damages founded on allegations that Spartan Capital Management failed to supervise private placement and stock transactions executed by Kelly, and that the customer’s account had been churned. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02950 (December 10, 2021). According to the claim, unauthorized trades were executed in the customer’s account. Kelly allegedly placed the customer in unsuitable investments. The claim also alleges breach of fiduciary contract as it relates to Kelly’s activities at Spartan Capital Management.
FINRA Public Disclosure also reveals that Kelly has been identified in three additional customer initiated investment related disputes regarding accusations of his misconduct while employed by Spartan Capital Securities. On November 1, 2017, a customer initiated investment related arbitration claim involving Kelly’s activities was resolved for $225,365.00 in damages based upon allegations of excessive trading by Kelly, causing damages in connection with common and preferred stock investments. FINRA Arbitration No. 16-00839. The claim alleges misrepresentation of information by Kelly while at Spartan Capital Securities.
On January 28, 2020, an additional customer filed an investment related arbitration claim regarding Kelly’s conduct where the customer sought $529,411.00 in damages founded on allegations that Kelly gave the customer unsuitable recommendations while registered with Spartan Capital Securities. According to the claim, Kelly misrepresented information in regard to the customer’s investments.
Kelly is also the subject of a customer initiated investment related arbitration claim which was settled for $30,000.00 in damages supported by accusations that the customer’s account was churned during the time that Kelly was employed by Spartan Capital Securities. FINRA Arbitration No. 18-03407 (December 16, 2021). The claim alleges unsuitable common and preferred stock trades and over-the-counter equities trades by Kelly, resulting in damages to the customer.
Kelly has been associated with Spartan Capital Securities since January 13, 2017.
