Stoltmann Law Offices is investigating Steven Schmulewitz, who was accused of violating securities laws including making unsuitable investment recommendations, unauthorized trading and churning accounts. Churning is a particularly egregious violation because it is excessive trading in a customer account, which can generate high fees for the client and large commissions for the broker. When a broker engages in churning, he will typically trade in and out of securities, sometimes even the same stock, many times over a short period of time. Often times the account will completely turnover every month with different securities. Shmulewitz was also accused of trading a customer’s account on margin without authorization from the client.
Steven Shmulewitz was registered with Biltmore Securities in Ft. Lauderdale, Florida from January 1994 until August 1994, Monroe Parker Securities in Purchase, New York from August 1994 until December 1997, VTR Capital in New York, New York from January 1998 until February 1998, Fin-Atlantic Securities in Jupiter, Florida from March 1998 until January 1999, and Woodstock Financial Group in Garden City, New York from February 1999 until December 2014. He is currently registered with Craft Capital Management in Garden City and has been since May 2015. He has nine customer disputes against him. Please call our securities law offices in Chicago to speak to an attorney about your options of suing Craft Capital Management in the arbitration forum on a contingency fee basis. We sue firms such as Craft Capital Management in order to recover losses for investors.