Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
John Tarpinian: Investor Complaints Against NYC Financial Advisor
Settled and pending investor complaints against former New York City broker and investment advisor John Tarpinian (CRD#: 1013555) allege conduct including fraud, breach of contract, suitability violations, unauthorized trading, and more. Tarpinian is a former representative of Paulson Investment Company and Newport Coast Securities, according to information drawn from Financial Industry Regulatory Authority records.
A pending May 2019 complaint alleges that as a representative of Paulson Investment Company and Newport Coast Securities, John Tarpinian made unsuitable recommendations, committed fraud, breached contract, and breached his fiduciary duty. The complaint alleges damages of $200,000.
A pending April 2019 complaint alleges that as a representative of Paulson Investment Company and Newport Coast Securities, Tarpinian committed fraud, breached contract, was negligent, breached his fiduciary duty, and made unsuitable recommendations. The complaint alleges unspecified damages.
A 2018 sanction by the Securities and Exchange Commission alleged that Tarpinian made undisclosed principal trades with advisory customers while he was registered with Newport Coast Securities. The SEC stated that he “engaged in thousands of trades between Newport’s brokerage proprietary trading account and advisory client accounts” without receiving his clients’ authorization or disclosing in writing that he was executing the trades. He also allegedly “charged undisclosed mark-ups and mark-downs” in connection with these trades and “unlawfully obtained” a sum of about $50,000 doing so. As a result of the foregoing alleged conduct, Tarpinian was censured, ordered to cease and desist, issued a fine of $25,000, and ordered to pay disgorgement of $50,000.
A 2018 complaint alleged that as a representative of Paulson Investment Company and Newport Coast Securities, he made unsuitable bond recommendations and purchases. The complaint reached a settlement of $13,873.43.
Another 2018 complaint alleged that as a representative of Paulson Investment Company and Newport Coast Securities, he made unsuitable recommendations and sales involving corporate bonds. The complaint reached a settlement of $17,327.39.
John Tarpinian is currently not registered as a broker or investment advisor. His employment history includes Paulson Investment Company in New York, New York; Newport Coast Securities in West Brookfield, Massachusetts; Meyers Associates in West Brookfield, Massachusetts; Anderson & Strudwick in West Brookfield, Massachusetts; Jesup & Lamont Securities Corporation in West Brookfield, Massachusetts; Oftring & Company in Los Angeles, California; Legg Mason Wood Walker in Baltimore, Maryland; and Painewebber in Weehawken, New Jersey. He currently holds zero state licenses and has passed four securities industry qualification examinations.