Ben Sutak, ThinkEquity Advisor, Receives $296K Complaint

New York City financial advisor Ben Sutak (CRD# 5580389) allegedly engaged in unauthorized trading and other forms of misconduct, according to a recent investor complaint. Financial Industry Regulatory Authority show that he is a broker with ThinkEquity, having previously been registered with WestPark Capital. 

Mr. Sutak’s BrokerCheck report discloses two investor complaints. The most recent, filed in September 2022, alleges that he generated excessive commissions, executed unauthorized trades, churned investments, misrepresented material facts, and recommended unsuitable investments while a representative of ThinkEquity. The pending complaint alleges damages of $296,239.65.

In a statement included with the pending complaint’s disclosure, Mr. Sutak pushed back against the allegations, asserting that the claimant did not complain or otherwise express dissatisfaction with the service received or the fees charges, and stating further that the complaint contains misleading and untrue statements. “Claimant is asserting a claim only for disgorgement of commissions that he alleges are excessive, which Respondents believes speaks volumes,” he commented further. “It should be emphasized that all commissions charged were well within/far below regulatory guidelines.”

A second investor complaint, filed in in 2013, alleged that as a representative of John Carris Investments, he made excessive trades, recommended unsuitable investments, and made misrepresentations of material facts. In 2015 the complaint reached a settlement of $6,000.

According to the Financial Industry Regulatory Authority, Ben Sutak holds 14 years of securities industry experience. Based in New York City, he has been a broker with ThinkEquity since 2017. His past registrations include WestPark Capital (2015-2017), Fordham Financial Management (2014-2017), John Carris Investments (2012-2014), Aegis Capital Corporation (2012-2014), Westrock Advisors (2009-2010), ICM Capital Markets (2009), and National Securities Corporation (2008). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 28 state licenses. (Information current as of December 9, 2022.)

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