Sonn Law Group is reviewing investor claims against former Spartan Capital Securities, LLC and Aegis Capital Corp. broker Michael Christopher Venturino (CRD No. 5872439).
According to FINRA records, a National Adjudicatory Council (NAC) decision became final in which Venturino was permanently barred from the securities industry for unauthorized trading, unsuitably excessive trading, and churning customer accounts. Venturino was also ordered to pay $144,357 in disgorgement.
Prior regulatory findings detailed that Venturino’s trading strategy caused over $1 million in cumulative customer losses and generated more than $500,000 in trading costs, while he collected over $325,000 in commissions. His BrokerCheck record reflects 12 customer dispute disclosures.
Churning & Excessive Trading Losses
Churning occurs when a broker exercises control over an investor’s account and executes frequent trades primarily to generate commissions rather than advance the client’s financial goals. Brokerage firms like Spartan Capital and Aegis Capital have a regulatory obligation to monitor trading activity and supervise their representatives.
Investors who suffered losses with Michael Venturino can contact Sonn Law Group at 1-844-689-5754 for a free case evaluation regarding FINRA arbitration recovery.
The official regulatory and BrokerCheck source link for Michael Christopher Venturino (CRD No. 5872439) is:
FINRA BrokerCheck Report: Michael Christopher Venturino (CRD #5872439)
Key Case Information
- Disciplinary Case: FINRA Case / Complaint No. 2021070337501
- Sanction: Permanent bar from association with any FINRA member firm in any capacity and $144,357 in ordered disgorgement (affirmed/modified upon NAC review)
- Core Violations: Willful violations of Section 10(b) of the Exchange Act, Rule 10b-5 thereunder, FINRA Rule 2020 (fraud/churning), Rule 2111 (unsuitably excessive trading), and Rule 2010 (unauthorized trading).
