Advisor Alert: Our Attorneys Are Investigating Nicholas James Schiano For Investment Fraud
Did You Lose Money Because of Nicholas Schiano?
Filed: January 16, 2024
Nicholas Schiano currently has one (1) pending customer complaint. Overall, he has been the subject of six (6) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Nicholas James Schiano.
Who Is Nicholas James Schiano of Spartan Capital Securities, LLC?
- Advisor Name: Nicholas James Schiano
- Aliases: Nicholas Schiano
- CRD: 4429212
- Location: New York, New York
- Current Employer: Spartan Capital Securities, LLC
- Previous Firms: Worden Capital Management LLC, Legend Securities, Inc., and Joseph Gunnar & Co. LLC
- Number of Known Customer Complaints: 6
- Can Nicholas Schiano Be Sued: Yes, in Private Arbitration
- Can Nicholas Schiano’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $414,744
- Highest Settlement: $35,000
If you have suffered investment losses by Nicholas Schiano, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Nicholas Schiano For Broker Misconduct
As of this publication date, Nicholas Schiano has been the subject of 6 customer disputes. Let’s review them below.
In May 2021, a FINRA arbitration was filed against or in reference to Nicholas Schiano by a customer of Worden Capital Management LLC alleging unsuitable Investments, excessive commissions and churning. Per the customer, he/she lost over $62,961.03 because of Mr. Schiano’s actions. On September 16, 2021, Mr. Schiano settled the claim for $5,000, and some or all of this amount may have been paid by Mr. Schiano’s employer and/or insurance carrier.
In December 2020, a FINRA arbitration was filed against or in reference to Nicholas Schiano by a customer of Worden Capital Management LLC alleging churning, qualitative and quantitative unsuitability, breach of fiduciary duty; breach of contract; negligent misrepresentation and omissions. Per the customer, he/she lost over $414,744 because of Mr. Schiano’s actions. As of this publication date, this claim remains pending.
In May 2020, a FINRA arbitration was filed against or in reference to Nicholas Schiano by a customer of Legend Securities, Inc. alleging unsuitability, over concentration, and excessive trading. Per the customer, he/she lost over $46,295 because of Mr. Schiano’s actions. On August 14, 2020, Mr. Schiano settled the claim for $7,499.99.
In January 2020, a FINRA arbitration was filed against or in reference to Nicholas Schiano by a customer of Spartan Capital Securities, LLC alleging misrepresentation and unsuitable recommendations. Per the customer, he/she lost over $241,727 because of Mr. Schiano’s actions. On February 22, 2022, Mr. Schiano settled the claim for $14,000, and some or all of this amount may have been paid by Mr. Schiano’s employer and/or insurance carrier.
In April 2019, a FINRA arbitration was filed against or in reference to Nicholas Schiano by a customer of Legend Securities, Inc. alleging misrepresentation, negligence, and breach of fiduciary duty. Per the customer, he/she lost over $208,000 because of Mr. Schiano’s actions. On October 7, 2019, Mr. Schiano settled the claim for $32,500.
In August 2017, a FINRA arbitration was filed against or in reference to Nicholas Schiano by a customer of Legend Securities, Inc. alleging unsuitable transactions. Per the customer, he/she lost over $128,541 because of Mr. Schiano’s actions. On January 3, 2019, Mr. Schiano settled the claim for $35,000.
How To File A Claim Against Nicholas Schiano of Spartan Capital Securities, LLC (previously with Worden Capital Management LLC, Legend Securities, Inc., and Joseph Gunnar & Co. LLC) To Get Your Money Back
If you have questions about Nicholas Schiano, Spartan Capital Securities, LLC, Worden Capital Management LLC, Legend Securities, Inc., Joseph Gunnar & Co. LLC, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.