Advisor Alert: Our Attorneys Are Investigating Stephen James Sullivan For Investment Fraud
Did You Lose Money Because of Stephen Sullivan?
Filed: January 16, 2024
Stephen Sullivan currently has one (1) customer complaint and three (3) pending judgment/lien events. Overall, he has been the subject of three (3) regulatory events, four (4) customer complaints and three (3) judgment/lien events. 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 Stephen James Sullivan.
Who Is Stephen James Sullivan?
- Advisor Name: Stephen James Sullivan
- Aliases: Stephen Sullivan
- CRD: 3123249
- Location: Garden City, New York
- Current Employer: Currently Not Registered
- Previous Firms: Spartan Capital Securities, LLC, SW Financial, and Worden Capital Management LLC
- Number of Known Customer Complaints: 4
- Number of Known Regulatory Events: 3
- Number of Known Judgment/Lien Events: 3
- Can Stephen Sullivan Be Sued: Yes, in Private Arbitration
- Can Stephen Sullivan’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $165,000
- Highest Settlement: $39,998
If you have suffered investment losses by Stephen Sullivan, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker 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 Stephen Sullivan For Broker Misconduct
As of this publication date, Stephen Sullivan has been the subject of 3 regulatory events, 4 customer disputes and 3 judgment/lien events. Let’s review them below.
In March 2023, FINRA initiated a regulatory action against or in reference to Stephen Sullivan for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
In March 2023, a FINRA arbitration was filed against or in reference to Stephen Sullivan by a customer of SW Financial alleging unsuitability, excessive trading/commissions, unauthorized trading, and negligence. Per the customer, he/she lost over $55,883 because of Mr. Sullivan’s actions.
In October 2022, FINRA initiated a regulatory action against or in reference to Stephen Sullivan for engaging in quantitatively unsuitable trading in customer accounts.
In August 2021, a FINRA arbitration was filed against or in reference to Stephen Sullivan by a customer of Newbridge Securities Corporation alleging excessive trading, unauthorized trading, unsuitability, breach of contract, breach of fiduciary duties, and negligence. Per the customer, he/she lost over $34,000 because of Mr. Sullivan’s actions. On December 2, 2021, Mr. Sullivan settled the claim for $30,000, and some or all of this amount may have been paid by Mr. Sullivan’s employer and/or insurance carrier.
In October 2019, a complaint was filed against or in reference to Stephen Sullivan by a customer of SW Financial alleging excessive trading, unauthorized trading , and unsuitable transactions were executed in account. The client also alleged fraud, negligence, breach of contract, and breach of fiduciary duty. Per the customer, he/she lost over $165,000 because of Mr. Sullivan’s actions. On October 10, 2019, Mr. Sullivan settled the claim for $39,998, and some or all of this amount may have been paid by Mr. Sullivan’s employer and/or insurance carrier.
In May 2016, Stephen Sullivan was the subject of a civil judgment or lien in the amount of $5,991.04. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In February 2016, FINRA initiated a regulatory action against or in reference to Stephen Sullivan for exercising discretion in the accounts of two separate customers without obtaining prior written authorization from his customers to exercise discretion in their accounts and his member firm did not approve these accounts for discretionary trading.
In November 2014, Stephen Sullivan was the subject of a civil judgment or lien in the amount of $7,300. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In November 2010, a complaint was filed against or in reference to Stephen Sullivan by a customer of First Midwest Securities, Inc. alleging unauthorized trade 08/11/10 for 2,000 shares GDP. Per the customer, he/she lost over $27,592.10 because of Mr. Sullivan’s actions.
In January 2009, Stephen Sullivan was the subject of a civil judgment or lien in the amount of $18,531.52. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
How To File A Claim Against Stephen Sullivan (previously with Spartan Capital Securities, LLC, SW Financial, and Worden Capital Management LLC) To Get Your Money Back
If you have questions about Stephen Sullivan, Spartan Capital Securities, LLC, SW Financial, Worden Capital Management 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.