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John Kakonikos Subject of Pending FINRA Investigation

John Kakonikos

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 9, 2016 indicate that former New York-based Southeast Investments broker John Kakonikos is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Kakonikos (CRD# 4017356).

John Kakonikos has spent 16 years in the securities industry and was most recently registered with Southeast Investments in East Meadow, New York (2014-2016). Previous registrations include Caldwell International Securities in Lake Success, New York; John Thomas Financial, which has since been expelled by FINRA, in New York, New York; Hunter Scott Financial, which has since been expelled by FINRA, in New York, New York; and JP Turner & Company in Atlanta, Georgia. He is currently not registered with any state or firm.

According to his BrokerCheck report, John Kakonikos has received two customer complaints and is the subject of a pending FINRA investigation.

In March 2016, FINRA “made a preliminary determination to recommend disciplinary action” against John Kakonikos following allegations of “potential willful violations of Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder; and FINRA Rules 2010.” FINRA Rule 2010, for context, states that FINRA members must “observe high standards of commercial honor and just and equitable principles of trade.” The action remains pending.

In 2012, the Internal Revenue Service filed a tax lien totaling $9,913 against John Kakonikos. The lien remains outstanding.

In 2010, the Internal Revenue Service filed a tax lien totaling $19,626 against John Kakonikos. The lien remains outstanding.

In 2008, a customer alleged John Kakonikos, while employed at JP Turner & Company, acted negligently, churned the account, breached his fiduciary duty, breached contract, and executed excessive trades. The complaint settled in 2009 for $100,000, to which Mr. Kakonikos individually contributed $9,500.

In 2006, a customer alleged John Kakonikos, while employed at JP Turner & Company, breached contract, breached his fiduciary duty, and misrepresented material facts related to an investment. The complaint settled in 2008 for $2,000, to which Mr. Kakonikos individually contributed $2,000.

In 2005, the Internal Revenue Service filed a tax lien totaling $39,831 against John Kakonikos. The lien remains outstanding.

If you have lost money investing with John Kakonikos, you may be able to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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