Investor Lawsuit Investigation – Sebastian Bongiovanni
The White Law Group is investigating potential securities claims involving former financial advisor Sebastian Bongiovanni, in light of multiple customer complaints, regulatory actions, and other disclosures reported by the Financial Industry Regulatory Authority (FINRA).
According to FINRA’s public records (CRD#: 4398600), Bongiovanni was most recently registered as a broker with Spartan Capital Securities, LLC in New York, NY. His BrokerCheck report reflects eight disclosures, including a pending FINRA complaint, multiple settled customer disputes, and several past alleged criminal convictions.
Sebastian Bongiovanni Customer Complaints
Bongiovanni has reportedly been the subject of serious investor complaints involving allegations of fraud, unsuitability, and failure to disclose investment risks.
December 2016: A customer alleged unsuitable investment recommendations, unauthorized trades, fraudulent misrepresentations and omissions, and failure to supervise. The complaint was settled for $91,000 after the client sought $185,000 in damages.
April 2016: A second dispute alleged lack of account supervision, unauthorized liquidations, and excessive commissions. The matter was closed with no action taken.
These complaints may be indicative of broader supervision concerns within the firms Bongiovanni worked for, including Spartan Capital Securities and Newbridge Securities Corporation.
Regulatory and Criminal Disclosures
In August 2024, Bongiovanni was permanently barred from associating with any FINRA member in all capacities after failing to respond to multiple FINRA requests for information. The bar was later vacated in November 2024, but a new pending regulatory complaint filed in June 2025 alleges that Bongiovanni failed to cooperate with a FINRA investigation into whether he misrepresented debts on a mortgage application and structured suspicious withdrawals in personal bank accounts.
FINRA notes that Bongiovanni’s failure to provide requested documents materially impacted the agency’s examination.
Risks of Broker Misconduct and Supervision Failures
Brokers are legally obligated to act in the best interests of their clients and to provide full and fair disclosure of all material investment risks. Misconduct such as unauthorized trading or unsuitable investment advice can result in devastating losses. When brokerage firms fail to monitor and supervise their advisors, they may be held liable for resulting investor harm.
Recovery Options for Investors
If you invested with Sebastian Bongiovanni and experienced losses, you may be able to pursue a recovery through FINRA arbitration. The White Law Group is reviewing whether Spartan Capital Securities, Newbridge Securities, and other firms failed to supervise Bongiovanni’s activities appropriately.
FINRA Arbitration vs. Class Action – What’s the Difference?
FINRA arbitration is the primary forum for resolving disputes between investors and financial professionals. It typically provides faster resolution than class action lawsuits, and allows each investor to present an individual claim. Class actions often involve long wait times and may result in smaller payouts per investor.
Free Consultation
The White Law Group has represented investors in FINRA arbitration claims nationwide, helping victims of investment fraud, broker negligence, and supervisory failure. If you suffered losses investing with Sebastian Bongiovanni, call 1-888-637-5510 for a free consultation.
Visit www.whitesecuritieslaw.com for more information.
Frequently Asked Questions (FAQs) – Sebastian Bongiovanni
What are the allegations involving Sebastian Bongiovanni?
Clients have accused Bongiovanni of unsuitable recommendations, unauthorized trades, and misrepresentation of risk. Regulators have cited his failure to cooperate with FINRA investigations.
Can I recover losses if I invested with Sebastian Bongiovanni?
Possibly. If your investments were unsuitable or you were misled by Bongiovanni’s recommendations, you may be eligible to file a FINRA arbitration claim to recover damages.
What is the difference between FINRA arbitration and a class action lawsuit?
FINRA arbitration allows for individual recovery tailored to your investment losses. It typically moves faster and may lead to higher compensation compared to a class action, which often involves long delays and lower per-investor payouts.
Last modified: July 2, 2025
