Pratul Agnihotri, Formerly with Spartan Capital Securities and Aegis Capital, Suspended by FINRA
Have you lost money with financial advisor Pratul V, Agnihotri from New York, New York? We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Pratul Agnihotri. FINRA filed a complaint against Agnihotri regarding allegations while he was affiliated with Spartan Capital Securities and Aegis Capital. FINRA suspended Agnihotri for 12 months and fined $7,500.
Agnihotri was being investigated regarding allegations that he engaged in an undisclosed outside business activity. Agnihotri was the CEO of Exergizer Corporation and sold an $8,000 investment in Exergizer.
Pratul Agnihotri was a registered representative and financial advisor with Spartan Capital Securities from October 2017 to January 2019. He was also with Aegis Capital from February 2010 to October 2017. He worked out of a branch office in New York, New York. Agnihotri has also been the subject of a customer complaint, alleging $650,000 in damages.
Broker-dealers like Spartan Capital Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.