- Report: #741899
Report - Rebuttal - Arbitrate
Complaint Review: Todd C. Spenla
Todd C. SpenlaNew York, New York United States of America
Todd C. Spenla Microbanc, LLC Poor Recruiter - Worse Investment Banker New York, New York
*Consumer Comment: Lew Lieberbaum, HB Turck, etc
As a recruiter in the financial services industry Todd Spenla has taken multiple deposits from companies, and has threatened to recruit their brokers if they fail to retain him.
Spenla took a few deposits from Brokerage Firms and failed to issue a refund when the contract required to doso.
Exhibit One: Spenla was released as a recruiter from Lew Leiberbaum, Maxim Group, and Bluestone Securities for lack of production.
Exhibit Two: Spenla and Microbanc received a 5K VFinance, Inc., requested a 5K refund because no brokers where hired on Spenla referrals, Spenla refused to pay. Source: David Rich. Spenla failed to refer any broker to his firm that was hired and breached the contract by failing to issue a refund.
Exhibit Three: Joseph La Scala Sr. Vice President, Wealth Management at the Happauge office of GunAllen. Once again, Spenla and Microbanc entered into a refundable retainer of $15K. Microbanc failed to refer one broker who resulted in a placement and then defaulted on returning the funding until Spenlas ex partner paid the refundable retainer, a debt which Spenla denies he owes till this day.
Exhibit Four: Garden City Office of GunAllen. Another 5K retainer that Spenlas firm took
and failed to return upon non-performance. Neil Impellizari OSJ supervisor contact.
Exhibit Five Prime Charter, LTD Spenla took a twenty five thousand dollar retainer and not one candidate was introduced to the firm for an interview. Source Steven Frank Schwartz. Many other firms gave Spenla a non-refundable retainer, and regretted it when Spenla failed to perform by not
making any placements.
Exhibit Six Brookstone Securities, LLC - Spenlas firm took a 10K retainer. No Placements. Source Tony Tuberville
Exhibit Seven Brooksteet Capital Spenlas firm took a 25K retainer. No Placements Source Stan Brooks.
Exhibit Eight Mid Atlantic Securities Spenlas firm took a 5K retainer and failed to refer one Broker.
Exhibit Nine - Investors Capital Corporation of Valley Stream 2.5K retainer No performance Source: Ryan Hans
Spenlas Techniques, sometimes include threats to a brokerage firm if he is not hired:
Exhibit Ten: Ladenburg Thalman when Todd Spenla was rejected as a recruiter for Ladenburg he threatened to recruit their brokers. Source Barry Rabkin
Office Space Deals:
Spenla, always looking for an office to work out of instead of his home, has entered into and asked to leave firms that he negotiated office space with after not performing:
1. Alexander & Associates
2. Burlington Securities
3. Chicago Investment Group
In the Investment Banking Arena, unlicensed Todd Spenla fared no better. His long history of ripping off Companies can be best summarized by his association with known felon Ronald J. Goldberg. Spenla befriended Goldberg who started to refer him business. Spenla took a 50K retainer from Paul Fiore for a restaurant deal in Vegas and showed up two days late for a meeting because he wanted to save on airfare. Spenla then proceeded to circumvent Goldberg in the Death Row Records deal by affiliating with a rival bidder and taking a retainer from another company seeking to obtain the catalogue which Goldberg introduced him to. This matter is currently pending in Federal Bankruptcy Court in Los Angeles.
BE VERY CAUTIOUS WHEN DEALING WITH THIS MAN.
The above information does not begin to cover the pending civil litigation against him.
Spenla has a long history of defaulting on rent payments, sub-leasing cars and defaulting.
Most recently he set up Harry Friedman of a 25K retainer, inducing him with a broker meeting
wherein the high powered broker had no intention of moving Harry of course was which he did not perform on by delivering a shell BD with the appropriate approvals as promised.
This report was posted on Ripoff Report on 06/17/2011 05:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Todd-C-Spenla/New-York-New-York-/Todd-C-Spenla-Microbanc-LLC-Poor-Recruiter-Worse-Investment-Banker-New-York-New-York-741899. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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