September 2021 -Garden City , New York
According to publicly available records Mark Sam Kolta , a stockbroker who formerly worked for National Securities Corp. and who is currently registered with Worden Capital Management, disclose 19 currently pending customer disputes,11 prior final customer disputes and a termination from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In FINRA case 19-312, a customer of Aegis Capital alleged that Kolta breached his fiduciary duty and made unauthorized trades. That matter was settled in 7/2019 for $20,000.
In FINRA arbitration 18-3346 a customer of National Securities Corp. alleged that Kolta made misrepresentations. breached his fiduciary duty in connection with a recommendation to invest in a real estate security. That case was settled in 11/2019 for $250,000.
In FINRA arbitration 18-2394 a customer of National Securities Corp. alleged that Kolta made misrepresentations and recommended an unsuitable real estate security. That case was settled for $47,500 in 12/2018.
In FINRA arbitration #18-2017 a customer of National Securities Corp. alleged that Kolta made an unsuitable recommendation to invest in a real estate security and made misrepresentations in connection with the sale. That case was settled for $80,000 in 12/2018.
In currently pending FINRA case 19-920 , a customer of National Securities Corp. alleges that Kolta breached his fiduciary duty and made unsuitable recommendations in variable annuities and real estate securities. The customer seeks damages of $300,000.
In currently pending FINRA case 19-1773 , a customer of Aegis Capital & National Securities Corp. alleges that Kolta breached his fiduciary duty, committed fraud and was negligent and seeks damages of $990,000.
In currently pending FINRA case 20-863 , a customer of National Securities Corp. alleges that Kolta made an unsuitable recommendations to purchase real estate securities. The customer seeks damages of $275,000.
Since 1/2021 there have bee 11 new customer claims brought by former customers of Kolta. In total these cases seek damages in excess of $3 million.
In 2011 Kolta was discharged by a former employer, Chase Investment Services, who makes the following allegation on Kolta’s FINRA record: “Registered rep advised customers of another brokerage firm in the trading of options during his employment with the firm without the firms knowledge or permission.”
Mark Kolta was employed by National Securities Corp. from 9/2013-6/2017. He was with Aegis Capital Corp for a short time from 6/2017-2/2018 and has currently been employed by Worden Capital Management since 4/2018.
If you have questions about an account in an account handled by Mark Kolta , contact us for a no charge consultation to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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