Close Menu
Free Consultation: 888-976-6111

Investor Complaint Against Spartan Capital’s Sean Barakat

New York City financial advisor Sean Barakat (CRD# 5031281), also known as Shadi Barakat, recently received an investor complaint alleging he breached his fiduciary duty to the investor. Financial Industry Regulatory Authority records show he is a broker with Spartan Capital Securities. 

Mr. Barakat’s BrokerCheck report discloses several investor complaints. The most recent, filed in June 2022, alleges that as a representative of Spartan Capital Securities, he recommended an unsuitable investment, breached his fiduciary duty, negligently misrepresented material facts, breached his fiduciary duty, and failed in his supervisory duties. The pending complaint alleges unspecified damages.

An earlier complaint, filed in 2015, alleged that as a representative of Aegis Capital, he made unsuitable recommendations, effected unauthorized transactions, was negligent, misrepresented material information, and breached his fiduciary duty in relation to investments in leveraged exchange-traded funds and exchange-traded notes. In 2020 the complaint reached a settlement of $35,000.

A third investor complaint, filed in 2017, alleged that as an Aegis Capital representative, Mr. Barakat made excessive trades and unsuitable investment recommendations. In 2018 the complaint reached a settlement of $150,000.

A fourth investor complaint, filed in 2013, alleged that Mr. Barakat made unsuitable recommendations and engaged in churning. In 2015 the complaint reached a settlement of $360,000.

According to the Financial Industry Regulatory Authority, Sean Barakat holds 16 years of securities industry experience and is also known as Shadi Barakat. Based in New York City, he has been a broker with Spartan Capital Securities since 2017. His past registrations include Aegis Capital, Gunnallen Financial, Joseph Gunnar & Company, Mercer Capital, and VFinance Investments. His credentials include the passage of three securities industry qualifying examinations: 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 6. He is licensed as a broker in California, New York, Ohio, Pennsylvania, and Texas. (Information current as of July 17, 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.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • Greenberg Financial’s David Sherwood Faces GWG L Bond Complaint

    Tucson financial advisor David Sherwood (CRD# 1024893) is involved in an investor complaint stemming from the allegedly negligent sale of...

    Read More
  • Tom Endersbe: SagePoint Denies $70K REIT/BDC Complaint

    St. Louis Park, Minnesota financial advisor Tom Endersbe (CRD# 1407028) allegedly recommended an unsuitable real estate investment trust, according to...

    Read More
  • SEC Fraud Complaint Against Ryan Reaume, Calibre Consulting Advisor

    Leesburg, Virginia financial advisor Ryan Reaume (CRD# 2684692) was recently named in a civil action by the Securities and Exchange...

    Read More
  • Jason Doviak: $1 Million Complaint Against Park Avenue Advisor

    Red Bank financial advisor Jason Doviak (CRD# 4266648) is involved in an investor complaint alleging his conduct resulted in seven-figure...

    Read More
  • Previous
  • Next