There are options for customers of former Worden Capital Management LLC broker Christ Baltas (CRD# 2570499) who suffered investment losses. Baltas was registered with Worden Capital Management LLC in Melville, New York from 2015 to 2020. Previously, Baltas was registered with Wilmington Capital Securities, LLC in Melville, New York from 2011 to 2015.
In September 2020, FINRA barred Baltas after he “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation involving his supervision of a registered representative’s potentially unsuitable trading recommendations.”
Baltas has been the subject of one customer complaint, according to his CRD report:
April 2021. “Between August 2015 and January 2020, client alleges fraudulent misrepresentation and omission of material fact; unsuitable recommendations and trading strategy; failure to act with high standards of commercial honor; and, lack of reasonable supervision.” The customer is seeking $284,108.07 in damages and the case is currently pending. The complaint was regarding equity OTC and common and preferred stocks. The complaint took place while Baltas was registered with Worden Capital Management LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Worden Capital Management LLC may be liable for investment or other losses suffered by Baltas’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.