Public records published by the Financial Industry Regulatory Authority (FINRA) on June 6, 2016 indicate that New York and New Jersey-based Spartan Capital Securities and Blackbook Capital broker Philip Fatta has received numerous customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Fatta (CRD# 1467533).
Philip Fatta has spent nineteen years in the securities industry and has been registered with Spartan Capital Securities in New York, New York since May 2015, and with Blackbook Capital in Holtsville, New York and Hillside, New Jersey since 2014. Previous registrations include IAA Financial in Melville, New York; CK Cooper & Company in Melville, New York; Legend Securities in New York, New York; Brookstone Securities in New York, New York; JP Turner & Company in Holtsville, New York; First Montauk Securities in Red Bank, New Jersey; First Hudson Financial Group in New York, New York; Gunnallen Financial in Tampa, Florida; National Securities in Seattle, Washington; US Securities & Futures in New York, New York; Sharpe Capital in New York, New York; and Gaines Berland in Bethpage, New York. He is a registered broker with 20 US states and territories.
According to his BrokerCheck report, Philip Fatta has received one regulatory sanction, three customer complaints, and one pending customer complaint.
In September 2015, a customer alleged Philip Fatta, while employed at Brookstone Securities, engaged in churning, made unsuitable recommendations, executed unauthorized trades, acted negligently, breached contract, and misrepresented material facts related to an investment. The customer is seeking damages exceeding $32,900 in the pending complaint.
In 2008, a customer alleged Philip Fatta, while employed at JP Turner & Company, executed excessive and unsuitable trades, misrepresented material facts, charged excessive commissions, breached his fiduciary duty, and made unsuitable investment recommendations. The complaint settled for $350,000, to which Mr. Fatta individually contributed $75,000.
In 2006, FINRA sanctioned Philip Fatta following allegations he improperly altered account transferred forms while employed at First Montauk Securities and First Hudson Financial Group. He was issued a 3-month suspension and a fine of $14,000.
In 2001, a customer alleged Philip Fatta, while employed at Sharpe Capital, supervised a broker who engaged in churning, converted funds, and executed unauthorized trades. The complaint settled in 2003 for $150,000.
In 2000, a customer alleged Philip Fatta, while employed at Sharpe Capital, executed unauthorized trades and churned investments. The complaint settled in 2001 for $125,000.
If you have lost money investing or have complaints regarding Philip Fatta, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be qualified to recover your losses. All cases are taken on contingency: we only get paid if and when you recover money. 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.