Last Updated: April 2025 – Garden City, NY
John Christoforidis Investigation Summary
Here’s what you need to know about Garden City, NY, former stockbroker John Christoforidis:
- Name: Mr. John Christoforidis
- Current Status: FINRA has Barred this broker from acting as a broker or otherwise associating with a broker-dealer firm
- CRD Number: 2841315
- Function: Stockbroker / Financial Advisor
- Primary Location: Garden City, NY
- Prior Employers: Spartan Capital Securities, LLC; Worden Capital Management LLC (FINRA expelled this firm 7/2022); Rockwell Global Capital LLC; Brookstone Securities, Inc.; Brookstone Securities (FINRA expelled this firm 10/2012); First Midwest Securities, Inc.; Global Arena Capital Corp (FINRA expelled this firm 1/2016);; Clark Dodge & Co., Inc.; Newbridge Securities Corporation; GunnAllen Financial, Inc.; GIT Securities Corporation (FINRA expelled this firm 3/2003); First Montauk Securities Corp.
- Can John Christoforidis be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: Yes (Permanently barred)
If you’ve sustained damages from Mr. Christoforidis, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With John Christoforidis As Your Stockbroker?
On August 12, 2024, FINRA permanently barred John Christoforidis (FINRA Case No. 2018056490313) from associating with any FINRA-member firm in all capacities. This sanction arose from Mr. Christoforidis’s refusal to provide on-the-record testimony during FINRA’s investigation into potential sales practice violations during his employment with Spartan Capital Securities, LLC. The FINRA sanction effectively prohibits Mr. Christoforidis from working as a broker or in any capacity with any brokerage firm regulated by FINRA.
It should be noted that four of the broker dealers Christoforidis worked for during his career have been expelled from the industry by FINRA for various regulatory violations.
Sales Practice Violations
According to FINRA (Financial Industry Regulatory Authority), Sales Practice Violations involve misconduct by financial professionals (brokers, financial advisors) or firms in their interactions with customers, related to the sale of securities or investment products. Sales Practice Violations can lead to enforcement actions, fines, suspensions, or other penalties. Below is an overview of common sales practice violations based on FINRA’s rules and enforcement priorities:
- Suitability Violations (FINRA Rule 2111):
- Example: Recommending high-risk securities to a retiree seeking stable income.
- Unauthorized Trading (FINRA Rule 2010):
- Example: A broker buys or sells securities without discussing with the client.
- Churning (Excessive Trading):
- Engaging in excessive trading in a customer’s account to generate commissions, thereby enriching the broker and the broker-dealer while disregarding the customer’s best interests.
- Misrepresentation or Omission of Material Facts (FINRA Rule 2020):
- Example: Exaggerating potential returns or downplaying risks of a speculative product.
- Fraud and Deceptive Practices (FINRA Rule 2020, Section 10(b) of the Securities Exchange Act):
- Example: Creating fictitious account statements to mislead customers to prevent the customer from realizing his account is losing money or to conceal theft by the broker.
- Private Securities Transactions (Selling Away) (FINRA Rule 3280):
- Example: Promoting unapproved private investments, not authorized by the broker-dealer, to clients.
- Failure to Supervise (FINRA Rule 3110):
- Firms or supervisors failing to adequately oversee brokers’ activities, leading to sales practice violations.
- Customer Fund Misappropriation:
- Misusing or stealing customer funds or securities, such as unauthorized withdrawals or conversions.
- Inadequate Disclosure of Fees and Costs:
- Failing to clearly disclose commissions, markups, or other costs associated with transactions.
Allegations of Broker Misconduct Against John Christoforidis
FINRA Regulatory Action – Permanent Bar (2024)
FINRA Rules Violated: This refusal to cooperate constitutes a violation of FINRA Rule 8210, which mandates that brokers must comply with FINRA investigations.
Recover Your Investment Losses Now With Rex Securities Law
Other Investigations Involving Spartan Capital Securities Brokers
If you have suffered investment losses in an account handled by John Christoforidis, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.