Terry Tzagarakis (also known as Terry Rakis) of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $6,645,956.00 in damages based upon accusations that (1) unauthorized transactions were effected in the customer’s account (2) stocks selected by Tzagarakis failed to be suitable for the customer and (3) the customer’s account was churned during the time that Tzagarakis was associated with Spartan Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03407 (Sept. 27, 2018).
Tzagarakis has been identified in five additional customer initiated investment related disputes containing allegations of his misconduct while employed by Investors Capital Corp., J.P. Turner Company LLC and John Thomas Financial. FINRA Public Disclosure reveals that Tzagarakis is the subject of a customer initiated investment related written complaint which settled for $9,647.51 in damages based upon allegations that a stop loss order had not been entered by Tzagarakis according to the customer’s instructions which resulted in the J.P. Turner Company customer incurring losses on over-the-counter equities.
An additional customer initiated investment related arbitration claim concerning Tzagarakis’ activities was resolved for $22,500.00 in damages founded on accusations that the customer experienced undue losses on inappropriate options transactions which were executed by Tzagarakis at Investors Capital Corp. Tzagarakis has also been identified in a customer initiated investment related written complaint where the customer sought $6,700.00 in damages founded on accusations that the customer was placed into bad stocks by Tzagarakis. According to the complaint, the customer’s account was churned. The complaint also alleges that trades were executed without the customer’s permission while Tzagarakis was employed by Investors Capital Corp.
Another customer filed an investment related complaint pertaining to Tzagarakis’ activities in which the customer requested $28,173.00 in damages supported by allegations that unauthorized transactions were facilitated in the customer’s account by the stockbroker. According to the claim, Tzagarakis’ trading at John Thomas Financial was excessive and led the customer to experience losses. Also, a customer initiated investment related complaint regarding Tzagarakis’ conduct was settled for $6,000.00 in damages supported by allegations of unauthorized margin use and bad stock transactions in the Spartan Capital Securities customer’s account by Tzagarakis.
Tzagarakis’ employment with Spartan Capital Securities was terminated on April 6, 2020. Between March 6, 2020 and May 6, 2020, he was registered with Worden Capital Management LLC. Since April 26, 2001, Tzagarakis has been associated with at least three different securities broker dealers who have been expelled by regulators for violation of federal securities laws or who are otherwise defunct.
