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Investor Files Complaint Against Spartan Capital’s Justin Dieter
Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to six-figure damages. Financial Industry Regulatory Authority records show that he is a broker registered with Spartan Capital Securities, having previously affiliated with Allied Millennial Partners and Aegis Capital.
Mr. Dieter’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in August 2022, alleges that as a representative of Allied Millennial Partners and Spartan Capital Securities, he churned investments, misrepresented material facts, recommended unsuitable products, and breached his fiduciary duty. The pending complaint alleges damages of $104,723.51.
In a statement included in the pending complaint’s disclosure, Mr. Dieter described the allegations as “unsupported” and part of “a specious attempt of a customer to recover losses” that resulted from adverse market conditions. “All transactions were authorized and the customer was suitable Customer was an active and knowledgeable participant in all investments, he authorized each and every transaction,” he wrote. “Claimant is attempting to recover market losses through litigation.”
A second investor complaint, filed in 2022, alleged he recommended unsuitable investments and breached his fiduciary duty while a representative of Aegis Capital. The complaint reached a settlement of $10,000.
A third investor complaint, filed in 2020, alleged breach of contract, breach of fiduciary duty, and unsuitable investment recommendations. In 2022 the complaint reached a settlement of $37,747.89, with a comment on the disclosure noting that Mr. Dieter “was not a named respondent in the matter.”
A fourth investor complaint, filed in 2020, alleged he recommended an unsuitable investment strategy with high transaction costs and executed unauthorized transactions while a representative of Allied Millennial Partners. The complaint reached a settlement of $14,000.
A fifth investor complaint, filed in 2018, alleged that he recommended unsuitable investments while at Aegis Capital. In 2019 the complaint reached a settlement of $365,000.
According to the Financial Industry Regulatory Authority, Justin Dieter holds 15 years of securities industry experience. Based in Garden City, New York, he has been a broker with Spartan Capital Securities since 2020. His past registrations include Allied Millennial Partners, Aegis Capital Corporation, Global Arena Capital Corporation, and Prestige Financial Center. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Alabama, California, Connecticut, Florida, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, Texas, and Wisconsin. (Information current as of October 1, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.