John Lowry & Kim Monchik: Spartan Advisors Face Atlas Funds Complaint

New York City financial advisors John Lowry (CRD# 4336146) and Kim Monchik (CRD# 2528972) have been named in a regulatory complaint concerning the sale of membership interests in unregistered private funds. Financial Industry Regulatory Authority records show that each is registered as a broker with Spartan Capital Securities.

A complaint filed by FINRA before its Office of Hearing Officers (No. 2021069218305) describes the allegations against Mr. Lowry, Ms. Monchik, and Spartan Capital. As it explains, the firm recommended investments in private placement offerings to 191 customers, most of whom were retail customers, without a reasonable basis to believe the recommendations were suitable or in the customers’ best interests, “because it failed to conduct reasonable due diligence” of the products. During the period in question, Mr. Lowry was the firm’s CEO and owner, while Ms. Monchik was its Chief Compliance Officer. the offerings at issue were “unregistered, private investment funds” known as Atlas Funds, and Mr. Lowry was the sole owner and control person of the entity that managed them.

As the complaint describes,  the Atlas funds “had a complex investment structure that was designed to give investors an opportunity to invest indirectly into companies that planned to conduct initial public offerings, otherwise known as ‘pre-IPO companies.’”FINRA alleges that the subjects of the complaint “recklessly or, at minimum, negligently disseminated, or cause the dissemination of, false and misleading information” to investors in the funds. It explains specifically that memoranda regarding the investments misrepresented that the funds “would not share in any profit on markups that may be charged by a third-party affiliate in the offerings.” As directed by Mr. Lowry, according to FINRA, the funds “charged customers $3.25 million in markups, which directly benefitted Lowry who owned and controlled those entities.”

Alleging that Mr. Lowry, Ms. Monchik, and Spartan Capital violated industry rules, including FINRA Rules 3110 and 2010, as well as Regulation Best Interest, FINRA is seeking sanctions against all of the respondents, including that they disgorge “any and all ill-gotten gains and/or make full and complete restitution.”

According to the Financial Industry Regulatory Authority, John Lowry holds 24 years of securities industry experience and has been registered with Spartan Capital Securities in New York City since 2008. Kim Monchik, meanwhile, holds 22 years of securities industry experience and has been registered with Spartan Capital Securities in New York City since 2008. (Information current as of November 26, 2025.)

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