Danny Sookram, of Melville, New York, a stockbroker previously terminated by Equitable Advisors LLC in March 2026, for the alleged “excessive trading in a client’s brokerage account” was hired by Aegis Capital Corp. in April 2026.
Churning or excessive activity occurs when your financial advisor effects transactions in your account generally not in an effort to further your financial interests but instead to further their own financial interests at your expense. Whether a customer security account has been churned or excessively traded is a question of fact, and it peculiar to the account at issue.
Churning is exists when a securities broker engages in excessive trading in disregard of his customer’s investment objectives for the purpose of generating commissions, and consists of three elements, all of which must be present: (1) the trading must be excessive in light of the customer’s investment objectives; (2) the broker must exercise control over the account; and (3) the broker must act with the intent to defraud or with willful and reckless disregard of the customer’s interests.
If you believe that your stockbroker or financial advisor made churned or otherwise excessively traded your securities account simply to generate commissions, you should have your account reviewed to determine if you are the victim of churning. Contact The Guiliano Law Group today to schedule a free legal consultation and learn more about how to recover your investment losses as a result of churning or excessive activity at (877) SEC-ATTY
All inquires are confidential, and we offer our services on purely a contingent fee basis, meaning we do not get paid unless we make a recovery for you.
