Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Tedeschi (Tedeschi), previously associated with Spartan Capital Securities, LLC, has at least one disclosable event. These events include one tax lien, alleging that Tedeschi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on May 18, 2023.
Without admitting or denying the findings, Tedeschi consented to the sanctions and to the entry of findings that he failed to amend his Form U4 to disclose that he had been charged with two felonies. The findings stated that Tedeschi was arrested and charged in Nassau County, New York with Criminal Sale of a Controlled Substance in the Third Degree and Criminal Possession of a Controlled Substance in the Third Degree, both Class B felonies. Tedeschi ultimately pled guilty to a reduced misdemeanor charge of criminal possession of a controlled substance. Tedeschi was aware that he had been charged with two felonies and he discussed the charges with supervisors at his member firm. However, Tedeschi did not timely amend his Form U4 to disclose the charges, as he was required to do. Indeed, Tedeschi never disclosed the felony charges on his Form U4 prior to his resignation from the firm.
