Financial Industry Regulatory Authority Inc. arbitrators awarded approximately $1.5 million to Janet Zagaro, an investor who filed a claim in April 2018 against Cadaret, Grant & Co., as well as its former broker and former ponzi scheme artist Steven Pagartanis, who did not appear at the arbitration hearings.

Former Cadaret Broker Ordered to pay $1.46M

Zagaro sought damages of $2.7 million alleging misrepresentation, failure to supervise, omission and breach of fiduciary duty. A FINRA panel of two found Mr. Pagartanis liable and awarded Ms. Zagaro compensatory damages in the amount of $1.462 million. In regards to Cadarent, Grant & Co., Zagaro removed the firm from her claims in February after it denied her allegations.

Broker Had Long History of Misconduct

According to his FINRA BrokerCheck report, Mr. Pagartanis worked for over 28 years in the financial services industry where he worked for 14 firms and amassed 17 disciplinary disclosures. He also plead guilty to running a multi-million-dollar Ponzi scheme last December. He is now barred from the industry. Currently, it is not certain whether or not Zagaro will be able to collect the awarded amount from Pagartanis.

Speak with a Ponzi Scheme Attorney

Our AV-rated* lawyers have extensive experience litigating a broad range of investment disputes, including those involving Ponzi Schemes.

If you are looking for an attorney to review your rights and options, the Ponzi scheme lawyers at Dimond Kaplan & Rothstein, P.A. represent individual and institutional investors who have lost money as a result of broker misconduct and Ponzi schemes.

Contact Dimond Kaplan & Rothstein Now

Contact an investment fraud attorney at Dimond Kaplan & Rothstein, P.A. to schedule an appointment for a FREE case evaluation.

Our offices are located in Los AngelesNew YorkDetroit, West Palm Beach, Naples and Miami, and we represent clients nationwide. Translations services are available.

EN   ES   PT     

Miami Office
Grand Bay Plaza
2665 S. Bayshore Drive
Penthouse 2B
Miami, FL 33133
Telephone: 786.628.8236

Los Angeles Office
Available by Appointment
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
Telephone: 424.544.7930

New York City Office
Available by Appointment
14 Wall St, 20th Floor
New York, NY 10005
Telephone: 917.382.5217

West Palm Beach Office
Northbridge Centre
515 N. Flagler Drive, Suite P-300
West Palm Beach, FL 33401
Telephone: 561.475.2887

Detroit Office
41000 Woodward Avenue,
Suite 350 East
Bloomfield Hills, Mi 48304
Telephone: 248.368.0182