Marc Korsch Investigation
July 2022-Sarasota, FL
According to publicly available records Marc F. Korsch, a currently unregistered broker who last worked for Arkadios Capital, discloses a final regulatory matter resulting in a permanent bar from the industry , 7 prior customer disputes, 19 pending customer disputes and 5 outstanding tax liens.
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 5/2022 FINRA permanently barred Korsch from the industry to resolve allegations that he failed to respond to FINRA requests for information in connection with a regulatory investigation.
In FINRA case#17-00474, a Trustmont Financial Group– (a previous employer of Korsch)– customer allegied violation of Florida’s Securities and Investor Protection Act; breach of fiduciary duty; common law fraud; failure to supervise, suitability; negligence/negligent misrepresentation/omission; breach of contract, restitution and negligent supervision. The FINRA arbitration panel awarded $1,046,098, which included punitive damages of $100,000.
Between 10/20 and 11/21, five customers of Centaurus Financial Inc. filed customer disputes alleging, among other things: unsuitable/high-risk investments, misrepresentation, illiquid investments, breach of fiduciary duty and that initials on investment documents were not the customers. The cases were collectively settled in the amount of $137,250.
Between 6/21 and 5/22, nineteen Centaurus Financial, Inc. customers filed FINRA cases alleging, among other things, unsuitable, high-risk, speculative and illiquid investments, breach of fiduciary duty, inappropriate asset allocations, high fee investments, high-commission investments and complex and risky investments. The total alleged damages for these currently pending cases, collectively, is in excess of $7.4 million.
The Internal Revenue Service has filed 5 tax liens against Korsch with the Sarasota Clerk of Circuit Court as follows:
- 4/20/2021 – case #202197612 – in the amount of $47,975.84
- 3/23/2021- case #2021050477- in the amount of $392,011.65
- 1/04/2021-case#2021000738 – in the amount of $149,851.50
- 12/23/2020-case#2020183661- in the amount of $266,529.70
- 12/15/2021-case #2020177436-in the amount of $479,998.20
These liens are all currently outstanding.
Marc Korsch was with Centaurus Financial, Inc. from 2/2014-2/2021. Prior to that he was registered with Trustmont Financial Group and Capital Financial Services.
If you have suffered losses in an account handled by Marc Korsch, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
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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