Ibrahim Kurtulus: Joseph Stone Advisor Lands $875K Complaint

A recent investor complaint against New York City financial advisor Ibrahim Kurtulus (CRD# 2287372) alleges that he made unsuitable trades and improperly used margin. Financial Industry Regulatory Authority records show that he is a broker with Joseph Stone Capital, having previously registered with Windsor Street Capital.

Mr. Kurtulus’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in September 2023, alleges that as a representative of Joseph Stone Capital, he made unsuitable over-the-counter equity trades, over-concentrated investments in the account, and improperly used margin. The pending complaint alleges damages of $875,000.

In a statement included with the pending complaint’s disclosure, Mr. Kurtulus defended himself against the allegations, writing that they were initiated by the son of a late client who inherited the account. “Over a quarter of a century, the claimant cultivated a connection that transcended the confines of business and community,” he wrote. “For 20 years client continued and directed me to continue working on risk and speculations in account. The allegations do not align with the values and principles upon which conduct and followed demands of the claimant.”

An earlier investor complaint, filed in 2017, alleged that as a representative of Windsor Street Capital, he provided unsuitable investment advice. The complaint reached a settlement of $14,999.99.

A third investor complaint, filed in 2016, similarly alleged that he recommended an unsuitable investment while a representative of Meyers Associates. In 2016 the complaint reached a settlement of $45,000.

According to the Financial Industry Regulatory Authority, Ibrahim Kurtulus holds 25 years of securities industry experience. Based in New York City, he has been a broker with Joseph Stone Capital since 2018. His past registrations include Windsor Street Capital (New York, New York; 2006-2018), JW Barclay & Company (Woodbridge, New Jersey; 1993-2001), and AS Goldmen & Company (Red Bank, New Jersey; 1993). 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 31 state licenses. (Information current as of January 6, 2024.)

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