Steven Luftschein, Formerly of Aegis Capital, Accused by FINRA of Churning and Unauthorized Trading

Luftschein is also named in a $200K customer complaint alleging excessive and unsuitable trading.

The Sonn Law Group is investigating allegations that Steven Luftschein committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

steven-luftschein-churning-and-unauthorized-tradingSteven Luftschein (CRD#: 2690117) has been charged by FINRA with churning and excessively trading in the accounts of three of his customers, Customers A, B, and C from July 2014 through July 2016 (the “Relevant Period”).

During this period, FINRA alleged that Luftschein executed approximately 430 trades in the Customers’ accounts, and that Luftschen’s churning and excessive trading was unsuitable and caused combined losses of more than $250,000 from the Customers’ accounts. 

During the Relevant Period, Luftschein’s trading in the Customers’ accounts generated gross sales credits and commissions of approximately $136,200, with Luftschein receiving a large portion of this amount. FINRA also alleged that Luftschein executed 88 unauthorized trades with a total value of approximately $3.1 million in the three Customers’ accounts during the Relevant Period.

In addition to these allegations, Luftschein has ten disclosures on his BrokerCheck report since 2010.

January 2020 Customer Dispute

May 2018 Customer Dispute

February 2018 Customer Dispute

August 2017 Customer Dispute

April 2017 Customer Dispute

June 2016 Customer Dispute

November 2012 Customer Dispute

March 2012 Customer Dispute

October 2010 Customer Dispute

April 2010 Customer Dispute

Contact Us Today

The Sonn Law Group is currently investigating allegations that Steve Luftschein committed misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.