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Shadi Barakat Recently Received a Complaint For Allegedly Executing Excessive Trades

Shadi Barakat

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on August 10, 2017 indicate that New York-based Spartan Capital Securities broker Shadi Barakat, also known as Sean Barakat, has received several resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Barakat (CRD# 5031281).

Shadi Barakat has spent 11 years in the securities industry and has been registered with Spartan Capital Securities in New York, New York since May 2017. Previous registrations include Aegis Capital in New York, New York; Gunnallen Financial in New York, New York; Joseph Gunnar & Company in New York, New York; Mercer Capital in New York, New York; and VFinance Investments in New York, New York. He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination) and Series 7 (General Securities Representative Examination). He is a registered broker with four US states and territories: California, Maryland, New York and Ohio.

According to his BrokerCheck report, he has received one customer complaint, two pending customer complaints and six unsatisfied tax liens.

In 2017 a customer alleged Shadi Barakat, while employed at Aegis Capital, executed excessive trades and made unsuitable investment recommendations. The customer is seeking $652,346 in damages in the pending complaint.

In February 2017 the City of New York filed a tax lien totaling $4,100 against him. The lien remains outstanding.

In 2017 the Internal Revenue Service filed a tax lien totaling $118,743.74 against him. The lien remains outstanding.

In 2016 the City of New York filed a tax lien totaling $8,544 against him. The lien remains outstanding.

In 2015 a customer alleged Shadi Barakat, while employed at Aegis Capital, made unauthorized transactions, acted negligently, made misrepresentations of material facts related to an investment or investments, breached his fiduciary duty, acted negligently, and made unsuitable investment recommendations. The customer is seeking more than $195,000 in damages in the pending complaint.

In 2013 a customer alleged Shadi Barakat, while employed at Aegis Capital, churned investments and made unsuitable recommendations. The complaint settled for $360,000.

If you or someone you know has a complaint regarding Shadi Barakat, also known as Sean Barakat, call the attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.