FINRA Alleges $50 Million Fraud Scheme by Spartan Capital Securities and Top Executives
The Financial Industry Regulatory Authority (FINRA) has filed a formal complaint against Spartan Capital Securities LLC, its CEO John Dennis Lowry, and its former Chief Compliance Officer (CCO) Kim Marie Monchik. The Department of Enforcement alleges a sophisticated scheme to defraud customers during a pharmaceutical company’s initial public offering (IPO), resulting in over $50 million in profits for the firm and its insiders while customers were left with dramatic losses.













