Kostas Tsamos aka Gus Tsamos (CRD #2782014, Commack, New York)

October 8, 2024 – An AWC was issued in which Tsamos was suspended from association with any FINRA member in all capacities for 17 months. In light of Tsamos’ financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Tsamos consented to the sanction and to the entry of findings that he willfully violated the Best Interest Obligation under Reg BI by recommending a series of trades in customers’ accounts, four of whom were senior customers, which was excessive, unsuitable, and not in the customers’ best interests. The findings stated that Tsamos’ customers relied on his advice and routinely followed his recommendations and, as a result, he exercised de facto control over the customers’ accounts. Tsamos’ trading in the customer accounts resulted in total trading costs of $958,948, including $849,576 in commissions, and caused over $1.03 million in total realized losses. The suspension is in effect from October 21, 2024, through March 20, 2026. (FINRA Case #2018056490316) If you have suffered losses as a result of Kostas Tsamos aka Gus Tsamos's act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Kostas Tsamos aka Gus Tsamos. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.