Tag Archives: Worden Capital Management complaint

Abed William Lulu-Former Worden Capital Broker- Discloses 6 Regulatory Event & Customer Suits – Melville, NY

June 2019-Melville, NY

The FINRA records of  Abed William Lulu ,  a  financial advisor previously employed by  Worden Capital Management disclose 6 regulatory events,  3 prior customer disputes, 4 outstanding judgments.

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.

Prior regulatory events for Lulu include:

FINRA case # 2017055568801 filed in 2/2018-Lulu failed to request termination of his previous suspension within the required time frame and was permanently barred from association with any FINRA member in any capacity.

FINRA case 2014040347901 was filed in 1/2016.   Without admitting or deny the findings, Lulu consented to the entry of findings that he failed to disclose that he was the subject of an IRS tax lien and a New York State tax lien.  He also provided false information to his member firm stating that he had no judgments or liens against him.   Lulu received a three month suspension and $5,000 fine.

In 2004,  the Colorado Division of Securities suspended Lulu as sanctions for allegations of unsuitable trading, unauthorized trading, unfair and dishonest dealings, securities fraud and failure to supervise.

In 8/2017,  a Laidlaw and Company (UK) Ltd. customer filed FINRA case #17-02227 alleging unsuitability and excessive trading.   That case settled for $23,000.

Lulu  discloses outstanding 2 currently outstanding Federal & StateTax Liens and 2 civil judgments.

Abed Lulu was registered with Worden Capital Management  from May to August of 2016.  . His prior employment in the financial industry includes Rockwell Global Capital, Rockwell Global Capital, Laidlaw and Company and Global Arena Capital.

If you have losses in an account  handled by Abed William Lulu , 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

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

John Marinaccio-Former Laidlaw & Company Broker- Discloses Two Terminations From Employment- New York

June 2019- NYC

According to publicly available records  John  Michael Marinaccio (CRD# 3274917) ,  a  financial advisor now employed by  Worden Capital Management,  discloses 2 terminations.

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.

Marinaccio was employed with Laidlaw & Company from June 2012 until June  2017 when he was allowed to resign. According to FINRA, the firm learned its former AML Compliance Officer misappropriated non-public customer information and filed a temporary restraining order preventing use of the subject information.

Marinaccio was employed with First Standard Financial Company from October 2017 until December 2017  when he was discharged after an internal review was instituted as a result of receiving a letter from Marinaccio’s prior employer alleging misuse of non-public customer information.

Marinaccio  has been  employed with Worden Capital Management  since February of 2018.

If you have questions about an account handled by John Michael Marinaccio contact us for a no charge consultation to learn how you may be entitled 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

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

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

May 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 6 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 19-920 , 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 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

Stephen Sullivan-Former Newbridge Securities Broker-Subject of $500K Customer Suit-Melville, NY

August 2018-Melville, New York

According to FINRA records,  Stephen J. Sullivan  a stockbroker who currently works for SW Financial (formerly Salomon Whitney Financial) ,   discloses  a prior regulatory event, a pending customer dispute, a prior customer dispute and 3 currently pending judgment/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 February 2016, without admitting or denying the findings, Sullivan consented to sanctions and entry of findings that while employed by First Midwest Securities, he exercised discretion in the accounts of two customers without obtaining their prior written approval. He was suspended for 10 business days and fined $5,000.

In currently pending FINRA Case 18-01444 a customer of one of his prior employers, Newbridge Securities, alleges that Sullivan made unsuitable recommendations and traded the account excessively. The customer is seeking damages of $540,618.

According to his FINRA record, sInce obtaining his Series 7 broker’s license in 1998, Sullivan has been employed by  14 different brokerage firms. His current employment with  SW Financial began in 5/2018.

Sullivan’s recent prior employment includes Worden Capital Management, Newbridge Securities and Legend Securities. 

If you have losses in an account handled  Stephen Sullivan, call for a no charge consultation to learn about 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