Advisor Alert: Our Attorneys Are Investigating Timothy Patrick Higgins For Investment Fraud
Did You Lose Money Because of Tim Higgins?
Filed: January 16, 2024
Timothy Patrick Higgins (also known as Tim Higgins) has been the subject of two (2) regulatory events, two (2) criminal events, and nine (9) 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 Timothy Patrick Higgins.
Who Is Timothy Patrick Higgins?
- Advisor Name: Timothy Patrick Higgins
- Aliases: Tim Higgins
- CRD: 2282547
- Location: Garden City, New York
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Spartan Capital Securities, LLC, Clark Dodge & Co., Inc., and World Equity Group, Inc.
- Number of Known Customer Complaints: 9
- Number of Known Regulatory Events: 2
- Number of Known Criminal Events: 2
- Can Timothy Higgins Be Sued: Yes, in Private Arbitration
- Can Timothy Higgins’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $1,000,000
- Highest Settlement: $250,000
If you have suffered investment losses by Tim Higgins, 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 Tim Higgins For Broker Misconduct
As of this publication date, Timothy Higgins has been the subject of 2 regulatory events, 2 criminal events, and 9 customer disputes. Let’s review them below.
In June 2022, FINRA initiated a regulatory event against or in reference to Timothy Higgins for allegedly failing to appear and provide testimony requested by FINRA on two occasions. The complaint alleges that FINRA was investigating Higgins’ trading in two of his customers’ accounts because the accounts had indicia of having been excessively traded. Higgins’ testimony was material to FINRA’s investigation into whether he engaged in misconduct when he traded the two customers’ accounts and was necessary for FINRA to complete its investigation into whether Higgins made unsuitable recommendations to the two customers.
In February 2019, a FINRA arbitration was filed against or in reference to Timothy Higgins by a customer of Spartan Capital Securities, LLC alleging breach of contract, unsuitability, excessive trading, and unauthorized trading. Per the customer, he/she lost over $137,000 because of Mr. Higgins’s actions. On May 7, 2020, Mr. Higgins settled the claim for $45,000, and some or all of this amount may have been paid by Mr. Higgins’s employer and/or insurance carrier.
In November 2004, Missouri initiated a regulatory event against or in reference to Timothy Higgins for failing to timely amend the Form U-4 disclosing customer complaints.
In April 2004, a NASD arbitration was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer alleging that the client’s margin account was liquidated to go into safer mutual funds but he purchased class b funds which he claims most reputable firms don’t sell. On February 17, 2005, Mr. Higgins settled the claim for $9,000.
In July 2003, a NASD arbitration was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer alleging improper sales practices, including unsuitability. Per the customer, he/she lost over $400,000 because of Mr. Higgins’s actions. On September 6, 2006, Mr. Higgins settled the claim for $10.
In July 2002, a complaint was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer alleging suitability. Per the customer, he/she lost over $850,000 because of Mr. Higgins’s actions. On April 4, 2003, Mr. Higgins settled the claim for $250,000, and some or all of this amount may have been paid by Mr. Higgins’s employer and/or insurance carrier.
In July 2002, a complaint was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer alleging sales practice violations. Per the customer, he/she lost over $377,000 because of Mr. Higgins’s actions. On February 24, 2003, Mr. Higgins settled the claim for $130,000, and some or all of this amount may have been paid by Mr. Higgins’s employer and/or insurance carrier.
In February 2002, a complaint was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer alleging unauthorized trading. Per the customer, he/she lost over $8,500 because of Mr. Higgins’s actions.
In February 1999, a complaint was filed against or in reference to Timothy Higgins alleging unauthorized trades. Per the customer, he/she lost over $40,000 because of Mr. Higgins’s actions. On April 12, 1999, Mr. Higgins settled the claim for $24,500, and some or all of this amount may have been paid by Mr. Higgins’s employer and/or insurance carrier.
In September 1998, a NASD arbitration was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer, Corp., Oppenheimer & Co., Inc., and Wexford Clearing Services, Corp. alleging unauthorized trades. Per the customer, he/she lost over $123,170 because of Mr. Higgins’s actions.
In December 1994, a complaint was filed against or in reference to Timothy Higgins by a customer of Continental Broker Dealer alleging unauthorized transaction. Per the customer, he/she lost over $1,000,000 because of Mr. Higgins’s actions.
In June 1994, felony charges were pressed against Mr. Higgins in County of Queens, New York. Mr. Higgins received #1. PL 220.03 00 AM 7th degree – criminal possession of a controlled substance (class a misdemeanor) and pled guilty, #2. PL 220.09 01 4th degree – criminal possession of a controlled substance (class c felony) and was dismissed. Mr. Higgins was conditionally discharged and completed 100 hours of community service.
In September 1992, misdemeanor charges were pressed against Mr. Higgins in District Court of Nassau County, New York. Mr. Higgins received A. PL 155.25 00 AM – petit larceny (misdemeanor) – reduced to b. pl 110-155.25 00 bm attempted petit larceny (misdemeanor). Mr. Higgins pled guilty to attempted petit larceny and paid a $250 fine.
How To File A Claim Against Tim Higgins (previously with Spartan Capital Securities, LLC, Clark Dodge & Co., Inc., and World Equity Group, Inc.)To Get Your Money Back.
If you have questions about Tim Higgins, Spartan Capital Securities, LLC, Clark Dodge & Co., Inc., World Equity Group, Inc., 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.