James Bradley Schwartz (CRD#: 3043085) is a previously registered FINRA broker. From December 2016 to February 2017, Mr. Schwartz was employed at Joseph Gunnar & CO. in New York, New York.
Previously, this broker was also a representative of First Standard Financial Company, Aegis Capital Corp., and John Thomas Financial.
Mr. Schwartz has a long history of investor complaints. Since 2012, nine separate customer complaints have been filed against this broker.
On February 26th, 2019, James Schwartz was named as the respondent in a new FINRA complaint. The agency alleges that Mr. Schwartz ‘churned’ the accounts of several brokerage firm customers.
Excessive Trading: Allegations Against Ex-Aegis Capital Broker James Bradley Schwartz
According to the FINRA Department of Enforcement, the alleged misconduct in this case occurred when James Schwartz was associated with Aegis Capital. The agency contends that Mr. Schwartz excessively traded (churned) the accounts of at least four different investors.
In its complaint, FINRA notes that Mr. Schwartz’s quantitatively unsuitable trading strategies resulted in his customers suffering nearly $660,000 in financial losses. At the same time, he raked in more than approximately $190,000 in commissions and fees for himself. FINRA is seeking all appropriate sanctions, potentially including payment of full restitution, disgorgement of ill-gotten profits, and suspension from the securities industry.
Did You Lose Money Due to Broker Churning?
We are here to help. At Sonn Law Group, our securities fraud attorneys have extensive experience handling excessive trading claims. If you or your family member lost money as a result of broker churning, please call us today for a free consultation.
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