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Charles Gonzalez Sanctioned: Outside Business Activity Allegations Against Former Spartan Broker

A disciplinary action taken by the Financial Industry Regulatory Authority against former New York City broker Charles Gonzalez (CRD# 4330269) barred him over allegations he participated in an undisclosed outside business activity. A former representative of Spartan Capital Securities, Gonzalez was barred from acting as a broker or otherwise associating with a broker-dealer firm.

According to a Letter of Acceptance, Waiver and Consent (No. 2018057258602) dated January 2019, Charles Gonzalez participated in an outside business activity between June 2017 and January 2018. FINRA’s findings state that the activity comprised “the formation of a new broker dealer.” However, according to FINRA, Gonzalez did not disclose to his member firm, Spartan Capital Securities, that he had created “a new business entity,” with his activities including retaining a consultant and paying for their services, purchasing office supplies, renting and paying for office space, and soliciting and raising capital from a Spartan customer to fund his new business.

FINRA’s findings state that these activities constituted violation of FINRA Rules 3270, which in part forbids registered persons from participating in outside business activities unless they provide prior written notice to their member firm in compliance with its procedures, and Rule 2010, which concerns standards of commercial honor. FINRA’s findings go on to state that when FINRA requested documents and information concerning his alleged outside business activity, he “falsified four expense recents and produced them to FINRA,” then later “provided false testimony about the expense receipts.” As a result of the foregoing alleged conduct, Gonzalez was barred from association with any FINRA member in any capacity.

Charles Gonzalez is not currently registered as a broker or investment advisor. His employment history includes Spartan Capital Securities, Newbridge Securities Corporation, Avenir Financial Group, VFinance Investments, Brill Securities, Maximum Financial Investment Group, Prestige Financial Center, Great Eastern Securities, Mercer Capital, National Securities Corporation, Legend Merchant Group, Berry-Shino Securities Ehrenkrantz King Nussbaum, Bernard Lee & Edwards Securities, and Millennium Securities Corporation. He currently holds no state licenses and has passed three securities industry qualification examinations.

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