National investment loss lawyers KlaymanToskes is investigating broker Kostas Tsamos a/k/a Gus Tsamos (CRD# 2782014) formerly of Spartan Capital Securities.
According to FINRA BrokerCheck, Kostas Tsamos a/k/a Gus Tsamos has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) in connection with FINRA’s findings that he recommended a series of trades in customers’ accounts, four of whom were senior customers, that were excessive, unsuitable, and not in the customers’ best interests.
Investors that suffered losses with broker Kostas Tsamos a/k/a Gus Tsamos are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Kostas Tsamos a/k/a Gus Tsamos, of Spartan Capital Securities, has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”). FINRA’s findings disclosed that Tsamos’s trading in six customer accounts resulted in total trading costs of $958,948, including $849,576 in commissions, causing over $1.03 million in total realized losses. FINRA found that between February 2016 and April 2022, Tsamos recommended a series of trades in six customers’ accounts, four of whom were senior customers, that were excessive, unsuitable, and not in the customers’ best interests. As a result, Tsamos willfully violated the Best Interest Obligation under Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Regulation BI) and violated FINRA Rules 2111 and 2010. Accordingly, Tsamos has been suspended for 17 months from associating with any FINRA member in all capacities.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Kostas Tsamos a/k/a Gus Tsamos, or have concerns regarding your investment portfolio at Spartan Capital Securities, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.