John Dennis Lowry

03/17/2026: The Department of Enforcement alleges: 1. From April through July 2021 (the Relevant Period), Respondents Spartan Capital Securities LLC (Spartan), its Chief Executive Officer (CEO) John Dennis Lowry (Lowry), and its then-Chief Compliance Officer (CCO) Kim Marie Monchik (Monchik), engaged in a scheme to defraud firm customers who owned restricted shares of a pharmaceutical issuer that they wished to sell shortly after the company’s initial public offering (IPO) underwritten by Spartan. 2. Specifically, in 2017 and 2019, Spartan served as placement agent for private offerings of a company involved in developing Alzheimer’s treatments, through which Spartan received millions of shares of the issuer, some of which it distributed to its employees, including Monchik. 3. The pre-IPO shareholders—including Spartan, some of its employees, and many of Spartan’s customers—were eager to sell their shares soon after the IPO. However, all the pre-IPO shares were restricted from resale. Spartan, through Monchik ...

Reference 2021071714201finra.orgdata-portal.finra.org