Category Archives: National Securities Corporation

Robert Abramowitz- National Securities Corp. Broker- Discloses Customer Disputes- Melville, NY

October 2018- Melville, NY

According to publicly available records  Robert Abramowitz (CRD#4457589), a stockbroker who is registered with National Securities Corp.  disclose a prior customer dispute and 2 pending customer disputes..

The Financial 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 December 2016 a customer with Raymond James Financial Services, Inc. filed case #16-03627 with FINRA alleging negligence, breach of fiduciary duty, breach of contract, material misrepresentations, omissions and failure to supervise.  The case was settled for $40,000.

In July 2018 a customer of Oppenheimer & Co. filed FINRA case #18-02666  alleging breach of contract, negligence, unsuitability, breach of fiduciary duty, respondeat superior, negligent supervision, over concentration from July 2011 until July 2016.    Alleged damages are $100,000.   This case is pending.

In March 2018 a customer with Raymond James Financial Services filed a customer dispute alleging “investments were misrepresented to her and were unsuitable based on her investment objectives.   She further states that her investment objectives and risk tolerance were incorrectly stated on new account paperwork from July 2011 until April of 2016.”   Alleged damages are $149,236.86.   This case was settled for $75,000.

Abramowitz is been employed by National Securities Corp. since September of 2017.   Prior to that he was with Oppenheimer & Co. from April 2016 until September 2017, and  with Raymond James from May of 2014 until April of 2016.   Before that time he was with Core Financial.   Abramowitz discloses a business affiliation with National Asset Management . 

If you have questions about an account handled by Robert Abramowitz, 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 from 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 are handled on a contingent fee basis meaning that you do not play legal fees unless we are successful.  

Nationwide Representation

Rex Securities Law

Toll Free: 877-224-3199

Florida:  561-391-1900

Texas:  512-329-2870

 

Mark Kolta-Former National Securities Corp Broker-Subject of Customer Suits -New York

March 2019-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 5 currently pending customer disputes, 6 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 recently filed FINRA case 19-312, a customer of Aegis Capital alleges that Kolta breached his fiduciary duty and made unauthorized trades. The customer seeks damages of $55,000.

In currently pending FINRA arbitration 18-3346 a customer of National Securities Corp. alleges that Kolta made misrepresentations. breached his fiduciary duty  and sold them a real estate security. The customer seeks damages of$422,000.

In currently pending FINRA arbitration 18-2394 a customer of National Securities Corp. alleges that Kolta made misrepresentations and sold them an unsuitable real estate security. The customer seeks damages of $120,000.

In another currently pending FINRA arbitration (#18-2017) a customer of National Securities Corp. alleges that Kolta made an unsuitable recommendation to invest in a real estate security and made misrepresentations in connection with the sale. The customer seeks damages of $450,000.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Gabe Block-Former Oppenheimer Broker-Suit Over Puerto Rico Bonds-Rumson , NJ

April 2019– Rumson, NJ

The FINRA records of Gabriel (Gabe)  Block, a former stockbroker who was last employed by First Standard Financial Co., disclose 4  final regulatory events,3 currently pending customer disputes and 9  prior customer disputes.

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.

On March 13, 2018, FINRA permanently barred Block from the securities industry in connection with a complaint filed by the Delaware Investor Protection Unit alleging numerous violations, including:

  • Securities Fraud
  • Churning
  • Dishonest or Unethical practice-Narcotics Use
  • Excessive Trading

FINRA found it not in the public interest, and would create an unreasonable risk of harm to the market and investors for Block to continue to associate with his firm. Block was employed by Janney Montgomery and Oppenheimer during the period of time when activity occurred leading to the regulatory action.

Gabe Block discloses settlement of the following   customer disputes :

  • FINRA Case 18-01038-A customer of Oppenheimer   alleged that Gabe Block made unauthorized and unsuitable purchases of Puerto Rico Bonds in claimant’s account from 2011-2013. The case was settled for $55,000.
  • FINRA Case 15-1551- a customer while Block was registered with Oppenheimer & Co. alleges churning, unsuitability, breach of fiduciary duty in connection with the handling of family accounts. Damages were alleged to be $800,000. The case was settled for $675,000.
  • FINRA Case 15-1550-a customer while Block was registered with Oppenheimer & Co. alleges churning, unsuitability, breach of fiduciary duty in connection with the customer’s account. Damages were alleged to be $100,000. The case was settled for $60,000.
  • Block’s FINRA record discloses two other customer disputes that wereresolved including one in which a customer alleged mismanagement of investments between 9/2005-12//2008, while Block was registered with Janney Montgomery Scott. That case was settled for $375,000.

In 2/2019 a customer of Oppenheimer filed FINRA case 19-0431 alleging that Block made trades and made unsuitable recommendations. The case is currently pending and the customer is seeking damages of $668,000.

IIn 3/2019 a customer of First Standard Financial filed FINRA Case #19-0550 alleging that Block made unsuitable recommendations causing losses of $300,000. That case is still pending.

Block  was registered with First Standard Financial  from 3/2016-3/2018. He was registered with National Securities Corporation from 3/2014-4/2016 and with Oppenheimer from 11/2008-3/2014. He discloses a business affiliation with Block Wealth Management in Rumson, NJ.

If you have losses in an account handled by Gabe Block 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.

Nationwide Representation

Rex Securities Law

National Toll Free: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Zachary Berkey-Former Four Points Capital Broker-Named in SEC Complaint-Melville, NY

February 2019-Melville, New York / Texas

Zachary S. Berkey , a currently unregistered stockbroker who last worked for Four Points Capital Partners, a Texas LLC, (Four Points) was named in a complaint filed by the Securities and Exchange Commission in December 2017, which alleges that Berkey and another Four Points broker, Daniel T. Fischer, recommended a high cost, in and out trading strategy without reasonable basis to believe it was suitable for the customers.

The SEC alleged that Berkey and Fischer:

  •  were reckless in making such a recommendation which was not suitable given the customers’ financial needs, investment objectives and circumstances.
  • made material misrepresentations and omissions to customers
  • the ten customers accounts involved suffered losses of $573,867 while Berkey earned $106,000 and Fischer earned $175,000 in commissions.

In 10/2018, Zach Berkey was permanently barred from the securities industry.

According to FINRA records Berkey was employed by Four Points Capital Partners from 4/2013-1/2015. Prior to that he was employed by National Securities Corp. and before that Woodstock Financial Group.

Berkey discloses a currently pending customer dispute and 4 prior customer disputes which include a case settled in 2005 for $231,000 in which a customer alleged misrepresentation and churning.

In the currently pending matter, a customer of Four Points seeks damages of of $146,000 for violations of state and federal securities laws.

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.

If you have questions about  an account handled by Zachary S. Berkey or if you have an account with Four Points Capital Partners that you think has been mishandled, contact us 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870