John Alexander Tarpinian, a previously registered broker and previously registered investment adviser, was the subject of multiple settled customer disputes disclosures initiated on the allegations of unsuitable investment recommendations and breach of fiduciary duty among others, according to an investigation by lawyer Alan Rosca.
Unsuitable investment lawyers of Rosca Scarlato LLC law firm, including Alan Rosca, are investigating conduct related to the multiple settled customer dispute disclosures involving former broker John Tarpinian on the allegations of unsuitable investment recommendations and breach of fiduciary duty among others.
Between the period of December 2015 and September 2018, John A. Tarpinian was in the employment of Paulson Investment Company, a Financial Industry Regulatory Authority (FINRA) member firm. Prior to this, he was also the employment of Newport Coast Securities, Inc and Meyers Associates, L.P.; both firms which have been expelled by FINRA from being member firms. He was in the employment of these firms when he allegedly committed the acts leading to the multiple customer disputes.
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John Alexander Tarpinian was the Subject of Multiple Customer Dispute Disclosures
According to the publicly available information reviewed by the unsuitable investment lawyers, Tarpinian was subject to a customer dispute that alleged unsuitable recommendations to invest in structured notes while former broker John Tarpinian was registered with Paulson Investment Company. The dispute is filed with FINRA and the alleged damages are $342,852.
During the period of May 2018 and May 2020 former broker John Tarpinian was involved in five customer disputes reported as settled filed on allegations ranging from unsuitable investment recommendations to breach of fiduciary duty according to the reports on his FINRA Brokercheck page.
One of the customer disputes was settled in May, 2020. The client in this dispute alleged the unsuitability of investment recommendation. The client also alleged common law fraud, breach of contract, negligent supervision and breach of fiduciary duty from March 2013 till April 2019. The client sought to recover unspecified damages to the tune of $200,000 but the dispute was settled for $15,000.
In another customer dispute settled on May 2020, the client made similar allegations of unsuitable investment recommendations, common law fraud, breach of contract and breach of fiduciary duty between August 2015 and May 2019. This dispute was settled for $55,000.
In the third customer dispute reportedly settled on the same day in May, 2020, the client made similar allegations. The client also alleged unsuitable investment recommendations, common law fraud, breach of contract and breach of fiduciary duty between February 2013 and March 2019. This dispute was settled to the tune of $23,000.
John Alexander Tarpinian was also involved in a settled a customer dispute filed in May 2018 on very similar allegations. In this customer dispute, the customer alleged unsuitable bond recommendations and purchases on September 27, 2017 and November 20, 2017. The client sought to recover $27,700 in damages but the dispute was eventually settled for $17,327.39.
In another customer dispute filed on the same day, the client made very similar allegations. The client alleged the unsuitability of bond recommendations and purchases between September, 2017 and November, 2017. The client in this dispute sought to recover $20,200 in damages but the dispute was settled for $13,873.43 according to the brokercheck report.
John Tarpinian Was Reportedly the Subject of a Regulatory Action
According to the brokercheck report, former broker John Tarpinian was the respondent in a regulatory action instituted against him by the United States Securities and Exchange Commission (SEC) in January 2018. The action by SEC was brought pursuant to Section 15(b) of the Securities and Exchange Act of 1934 among others in relation to his action while he was associated with a dually-registered broker-dealer; Newport Coast Securities.
The SEC alleged that he was involved in undisclosed and unapproved principal trades with advisory clients, charging undisclosed mark-ups and mark-downs and unlawfully obtained $50,000. He was issued a Cease and Desist Order and required to pay $50,000 in disgorgements and $25,000 in civil penalties among others.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to John Alexander Tarpinian’s Brokercheck report disclosing multiple settled customer disputes on the allegations of unsuitability and breach of fiduciary duty.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conducts related to John Alexander Tarpinian’s multiple reported settled customer disputes on the allegations of unsuitability and breach of fiduciary duty, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.