investment fraud

Robert John Murray of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which ten customers collectively requested $6,645,956.00 in damages based upon allegations that (1) fiduciary duties owed to customers had been violated (2) misrepresentations had been made concerning investments (3) transactions failed to be suitable for customers and (4) their accounts were churned. FINRA Arbitration No. 18-03407 (Sept. 27, 2018).

Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Murray has been identified in eight more customer initiated investment related disputes containing accusations of his violative conduct while employed by securities broker dealers including Spartan Capital Securities. In particular, a customer filed an investment related complaint concerning Murray’s activities in which the customer requested $159,404.39 in damages supported by allegations that trades failed to be suitable for the customer, and aggressive sales practices had been utilized to induce the options, stock and over-the-counter equities trades in the customer’s investment account.

Another customer filed an investment related complaint regarding Murray’s conduct on May 8, 2015 where the customer sought $11,000.00 in damages based upon accusations that trades were inappropriate and effected without permission; and the customer’s common and preferred stock and over-the-counter equities holdings had been churned. Murray is also the subject of a customer initiated investment related written complaint on July 11, 2016 in which the customer requested unspecified damages based upon allegations that options had been traded without the customer’s consent.

On January 10, 2017, another customer filed an investment related complaint involving Murray’s conduct where the customer sought $50,000.00 in damages supported by accusations that trades were executed in an excessive manner; transactions failed to be suitable for the customer; and the customer’s account was churned. FINRA Arbitration No. 17-00104. Murray is additionally subject of a customer initiated investment related arbitration claim in which the customer was awarded $105,000.00 in damages based upon Murray being found liable on the customer’s claims including violation of FINRA rules, negligent supervision, negligence, unsuitability, excessive commissions, excessive trading, securities fraud, and conversion of the customer’s funds. FINRA Arbitration No. 16-03605 (Aug. 24, 2018).

Murray’s registration with Spartan Capital Securities LLC has been terminated as of August 4, 2016. Between July 8, 2016 and August 7, 2018, Murray was employed by Joseph Stone Capital LLC. Between August 21, 2018 and November 9, 2018, Murray was associated with SW Financial.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

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Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

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