Franz Lembert: Churning Complaints Against NYC Broker

Financial Industry Regulatory Authority (FINRA) records reflect that New York City-based Spartan Capital Securities broker Franz Lambert has received several pending customer disputes. If you are a current or former customer with complaints regarding Mr. Lambert (CRD# 4463792), contact MDF Law to discuss your recovery options.  

Pending Customer Complaints against Franz Lambert

According to his BrokerCheck report, Franz Lambert has received one customer complaint, two pending customer complaints, and two denied customer complaints.

In August 2021 a customer alleged Franz Lambert, while employed at Laidlaw & Company, churned investments and charged excessive commissions from 2014 to 2017. The customer is seeking $145,000 in damages in the pending complaint.

In 2019 a customer alleged Franz Lambert, while employed at Worden Capital Management, breached his fiduciary duty, acted negligent, failed in his supervisory duties, misrepresented material facts, committed fraud, churned the account, engaged in unauthorized trading, and violated Iowa securities law in connection to investments in equities. The customer is seeking $781,500.57 in damages in the pending complaint.

In 2019 a customer alleged Franz Lambert, while employed at Worden Capital Management, acted negligently, made unsuitable investment recommendations, breached his fiduciary duty, breached contract, and negligently misrepresented and omitted material facts regarding investments in over-the-counter and listed equities. The complaint settled in 2020 for $25,998.

In 2009 a customer alleged that while employed at Investors Capital Corp., he engaged in unauthorized and excessive trading. The customer sought $40,000 in damages in the complaint, which was denied.

In 2009 a customer alleged that while employed at VFinance Investments, he engaged in unauthorized trading. The customer sought more than $8,500 in damages in the complaint, which was denied.

Registrations with Spartan and Worden Capital

Franz Lambert has spent 17 years in the securities industry and has been registered with Spartan Capital Securities in New York, New York since 2019. His previous registrations include Worden Capital Management in New York City (2016-2019); Legend Securities in New York City (2016); Dawson James Securities in New York City (2015-2016); Laidlaw & Company in New York City (2013-2015); Clark Dodge & Company in New York City (2013); John Thomas Financial in New York City (2011-2013); Paulson Investment Company in Miami, Florida (2009-2010);Jesup & Lamont Securities in Boca Raton, Florida (2009); VFinance Investments in Boca Raton, Florida (2008-2009); Broad Street Securities in Plantation, Florida (2008); Investors Capital Corporation in Miami, Florida (2006-2007); Brookshire Securities in Fort Lauderdale, Florida (2006); Newbridge Securities in Fort Lauderdale, Florida (2004-2006); Ladenburg, Thalmann & Company in New York City (2003-2004); and Global Trading Group in New York City (2002-2004). He has passed four securities industry examinations and holds 31 state securities licenses.

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