Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has opened an independent investigation into Richard Joseph Perlongo (CRD #4913481), a broker previously registered with Spartan Capital Securities, LLC, Worden Capital Management LLC, and Legend Securities, Inc. in New York State. Investors who believe their accounts were mishandled, subjected to unauthorized trading, or suffered excessive losses are urged to review the findings below and contact us for a free, confidential consultation at 1-888-885-7162. Our attorneys bring insider knowledge as former Wall Street defense counsel, a 98% success rate for investor recovery, and a proven “no recovery, no fee” guarantee.
If you invested with Richard Perlongo, your concerns are valid, especially in light of recent regulatory and customer complaint disclosures. We offer this detailed research report to empower you with the facts and help you explore every option to recover losses.
Who Is Richard Joseph Perlongo?
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Richard Joseph Perlongo, previously a licensed securities broker, worked with several brokerage firms:
- Spartan Capital Securities, LLC
- Worden Capital Management LLC
- Legend Securities, Inc.
He passed the Securities Industry Essentials (SIE), Series 7, and Series 63 exams, but is not currently registered with any FINRA member firm. His record is marked by significant red flags, which are discussed below.
Haselkorn & Thibaut’s Investigation: What We Found
We undertook a comprehensive review of BrokerCheck and other public records as of May and June 2024. This research highlights multiple red flags and investor complaints affecting those who worked with Richard Perlongo in New York and beyond.
Red Flags on Richard Perlongo’s Record
| Issue | Date | Details |
|---|---|---|
| Regulatory Action (FINRA) | March 6, 2025 |
|
| Customer Dispute (Pending) | January 15, 2026 |
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| Judgment / Lien Disclosures | December 29, 2023, and September 5, 2018 |
|
Understanding the Violations: Rules at Stake
Two core industry rules are especially important here:
- FINRA Rule 2111 (Suitability): Requires recommendations to be suitable for the customer, including both the appropriateness of a product and the volume of trading, such as excessive trading or “churning.” Perlongo’s actions were found unsuitable and excessive under this rule.
- FINRA Rule 2010 (Commercial Honor): Requires brokers to observe high standards of commercial honor and just and equitable principles of trade. FINRA found Perlongo failed to uphold these standards.
Regulation Best Interest (Reg BI) establishes a heightened obligation for brokers to put clients’ interests first, disclose conflicts, and act transparently. Perlongo’s regulatory history indicates conduct inconsistent with the standards investors are entitled to expect.
Are You at Risk? Why These Red Flags Matter for Investors
Red flags such as unauthorized trading, unsuitable recommendations, and substantial customer losses are closely monitored by regulators for good reason. If a broker repeatedly acts in his own interest by generating commissions or making high-risk recommendations, your financial future may be at risk.
According to Perlongo’s BrokerCheck report:
- One or more customers appear to have relied on his advice and suffered substantial losses.
- A pending customer dispute seeks $600,000 for alleged unauthorized trading in stocks.
- Regulatory sanctions involved restitution for excessive commissions, often a hallmark of “churning.”
- Unresolved tax liens may reflect financial irresponsibility and raise additional concerns about professional fitness.
How Do You Recover Losses from Broker Misconduct?
If you invested with Richard Joseph Perlongo, formerly of Spartan Capital Securities, Worden Capital Management LLC, or Legend Securities, Inc. in New York, and experienced excessive trading, unauthorized transactions, or unexplained losses, you may have rights to seek recovery through FINRA arbitration. Our attorneys, recognized with Super Lawyers honors, Martindale-Hubbell AV Preeminent peer ratings, and hundreds of 5.0-star reviews, use decades of Wall Street experience to advocate for investors like you.
It costs nothing to contact us. We advance all case costs and work strictly on a contingency basis. If there is no recovery, there is no fee.
What Our Investigation Means for You
Our independent review of regulatory filings and BrokerCheck data indicates the following:
- Richard Perlongo has a history of investor complaints and regulatory action involving excessive and unsuitable trading, alleged unauthorized transactions, and unresolved financial obligations.
- His former associations, including Spartan Capital Securities, Worden Capital Management LLC, and Legend Securities, Inc., have faced heightened regulatory scrutiny.
Your investment losses may have resulted from improper conduct rather than market conditions alone. Do not assume your options are limited. Our former defense attorneys can evaluate your circumstances and help determine a path toward potential recovery.
Contact Our Former Wall Street Attorneys for a Free Consultation
With over 95 years of combined securities law experience and more than $520 million in securities matters handled, we understand the tactics some brokers use to maximize profits at their clients’ expense. Our approach combines insider knowledge with focused advocacy on behalf of investors.
If you suspect misconduct by Richard Joseph Perlongo in New York, call 1-888-885-7162 or request a confidential case review online today. Do not let unauthorized trading, unsuitable advice, or excessive fees jeopardize your financial future. We are here to help you pursue recovery and regain control of your investment story.
