Mark Sam Kolta, Formerly of Worden Capital Management, Named in Multiple Customer Disputes Alleging Unsuitable Investment Recommendations

INVESTORS: Former Worden Capital Management broker Mark Sam Kolta named in multiple customer disputes alleging unsuitable investment recommendations.

Mark Sam Kolta (CRD: 5324620) was registered as a broker with Worden Capital Management from 208 until 2021. Kolta was previously registered as a broker with Aegis Capital Corp. from 2017 until 2018.

Kolta has twenty-seven disclosures on his BrokerCheck report. Two customer disputes filed against Kolta were denied.

July 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability

June 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $450,000.00

June 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $300,000.00

May 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability

April 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $650,000.00

March 2021 Customer Dispute

• Status: Pending
• Allegations: Misrepresentation
• Damage Amount Requested: $400,000.00

February 2021 Customer Dispute

• Status: Settled
• Allegations: Suitability
• Damage Amount Requested: $10,000.00
• Settlement Amount: $7,500.00

February 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability

January 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $300,000.00

January 2021 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $1,000,000.00

January 2021 Customer Dispute

• Status: Pending
• Allegations: Negligence; breach of fiduciary duty and breach of contract. Alleged activity occurred between 2013 and 2020.
• Damage Amount Requested: $162,000.00

January 2021 Customer Dispute

• Status: Settled
• Allegations: Suitability
• Damage Amount Requested: $50,000.00
• Settlement Amount: $15,000.00

December 2020 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $2,100,000.00

December 2020 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $250,000.00

December 2020 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $1,630,000.00

December 2020 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $450,000.00

November 2020 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $750,000.00

November 2020 Customer Dispute

• Status: Pending
• Allegations: Suitability
• Damage Amount Requested: $120,000.00
• Broker Comment: The registered representative is not named in the proceeding and is not the direct subject of any specific claims of action. The representative is moving to expunge.

July 2020 Customer Dispute

• Status: Settled
• Allegations: Suitability and misrepresentation
• Settlement Amount: $30,000.00
• Broker Comment: Respondent Cetera Advisors LLC settled out of the claim, independent of the other Respondents, for $10,000 on November 20, 2020. Additionally, Claimant dismissed Respondent Aegis Capital Corp. without prejudice on August 13, 2020. All other Respondents remain.

May 2020 Customer Dispute

• Status: Settled
• Allegations: Suitability
• Damage Amount Requested: $90,000.00
• Settlement Amount: $27,500.00

April 2020 Customer Dispute

• Status: Settled
• Allegations: Unsuitable investment, material misrepresentations and omissions, and violation of FINRA rules.
• Damage Amount Requested: $275,000.00
• Settlement Amount: $25,000.00
• Broker Comment: The registered representative is not named in the proceeding and is not the direct subject of any specific claims of action. The Representative is moving to expunge.

August 2019 Customer Dispute

• Status: Settled
• Allegations: National: Breach of Fiduciary Duty, Negligence, Breach of contract; Aegis: fraud, breach of fiduciary duty, negligence, breach 990,000.00 of contract (time frame: June 2017 to February 2018)
• Damage Amount Requested: $990,000.00
• Settlement Amount: $115,000.00

April 2019 Customer Dispute

• Status: Settled
• Allegations: Unsuitable recommendations, breach of fiduciary duty, negligence.
• Damage Amount Requested: $300,000.00
• Settlement Amount: $88,000.00

February 2019 Customer Dispute

• Status: Pending
• Allegations: Time frame: unspecified. Unsuitable investment recommendations, Breach of contract, Breach of fiduciary duty, negligence.
• Broker Comment: I was not named as a Respondent in this matter. Claimant is not seeking any damages from me. Both 2017 investments(Annuity and REIT) were determined to be suitable for client by firm and issuers. Client received all necessary disclosure documents prior to making his decisions to invest. No broker is a guarantor of investment’s value, since investments are subject to market fluctuations.

November 2011 Employment Separation After Allegations

• Firm Name: Chase Investment Services Corp.
• Termination Type: Discharged
• Allegations: Registered rep advised customers of another brokerage firm in the trading of options during his employment with the firm without the firm’s knowledge or permission.
• Broker Comment: No such advice was given, counsel and I are looking into defamation claims.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Mark Sam Kolta. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.