{"id":6949,"date":"2019-04-22T09:20:12","date_gmt":"2019-04-22T14:20:12","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6949"},"modified":"2019-04-22T09:20:12","modified_gmt":"2019-04-22T14:20:12","slug":"ex-aegis-capital-broker-is-barred-over-churning-allegations","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ex-aegis-capital-broker-is-barred-over-churning-allegations\/","title":{"rendered":"Ex-Aegis Capital Broker is Barred Over Churning Allegations"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory (FINRA) <\/a>announced that it is barring former Aegis Capital <\/a>broker James Schwartz for allegedly churning four clients\u2019 accounts. The self-regulatory authority (SRO) contends that Schwartz, who is no longer employed in the securities industry, made 256 trades in these accounts without first getting the customers\u2019 permission to execute the transactions. Along with other trades he made in these accounts\u2014535 trades in total\u2014the customers ended up collectively losing over $660K.<\/p>\n

FINRA\u2019s BrokerCheck record <\/a>on its case against Schwartz said that he engaged in about $10M worth of unauthorized trades. Some trades were also allegedly excessive.<\/p>\n

The SRO said that Schwartz earned commissions and gross sales credits of $277,705 from these fraudulent transactions, more than $194,000 of which was paid to the former Aegis Capital broker.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory (FINRA) announced that it is barring former Aegis Capital broker James Schwartz for allegedly churning four clients\u2019 accounts. The self-regulatory authority (SRO) contends that Schwartz, who is no longer employed in the securities industry, made 256 trades in these accounts without first getting the customers\u2019 permission to execute the transactions. Along […]<\/p>\n","protected":false},"author":2,"featured_media":6951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3783,3775],"tags":[2763,3378],"class_list":["post-6949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-broker-misconduct","category-churning","tag-aegis-capital","tag-james-schwartz"],"yoast_head":"\nEx-Aegis Capital Broker is Barred Over Churning Allegations — Investor Lawyers Blog — April 22, 2019<\/title>\n<meta name=\"description\" content=\"FINRA announced that it is barring former Aegis Capital broker, James Schwartz, for allegedly churning four clients\u2019 accounts, losing over $660k.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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