Worden Capital Management

Ex-Worden Capital Broker William Athas Accused of Excessive Trading That Cost Customers $1.1M

Published on: March 4, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Ex-NY Worden Capital Broker Barred After Allegedly Charging $1.6M in Commissions

The Financial Industry Regulatory Authority (FINRA) has barred ex-Worden Capital Management and former SW Financial registered representative, William Nicholas Athas. This bar comes in the wake of allegations that he engaged in excessive trading in customer accounts.

According to the self-regulatory organization’s (SRO’s) complaint, Athas controlled the trading in these accounts, deciding the frequency and volume of trades. He also allegedly made the calls regarding which securities to purchase and sell, as well as the quantity and timing of each transaction. William Athas’ customers usually would go by his recommendations.

Ex-Worden Capital Markets Broker Mark Kolta Has Been Named in 26 Customer Disputes

Published on: January 3, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Investors Are Seeking Six- to Seven-Figures in Damages

If you suffered investment losses while working with former Worden Capital Markets broker Mark Sam Kolta, you may want to explore your legal options with a seasoned securities law firm.

Kolta, who worked for 13 years in the industry, has 27 disclosures in his BrokerCheck record, 26 of which are customer disputes. A number of these are still pending, with some claimants requesting damages in the six and seven figures.

Ex-Worden Capital Management John Cangialosi Ordered to Pay $271,622 in Customer Restitution

Published on: November 3, 2021 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Suspends New York-Based Financial Advisor for Nine Months

John Sebastion Cangialosi, currently an SW Financial broker, was suspended by the Financial Industry Regulatory Authority (FINRA) in September 2021 for nine months. The broker was ordered to pay $271,622 in restitution for allegedly engaging in unsuitable trading in three customer accounts during his time as a Worden Capital broker.

The New York-based financial advisor has consented to the sanctions but without denying or admitting to the findings. Cangialosi also must pay a civil/administrative fee of $7,500.

Former Worden Capital Broker Allan Montalbano Faces $543K Unsuitability Case For Broker Negligence

Published on: October 25, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ex-New York Financial Advisor Has 15 Customer Disputes on BrokerCheck

If you suffered investment losses while working with ex-Worden Capital Management stockbroker Allan Perry Montalbano, contact our New York financial advisor misconduct attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com). Montalbano, who is no longer a registered broker or investment advisor, has 16 disclosures on BrokerCheck. Out of these, 15 are customer disputes.

Call our New York broker misconduct attorneys at (716) 261-3529. Throughout the US call SSEK Law Firm at (800) 259-2010.

Customers of Former Worden Capital Management Broker Christ Baltas Request Over $614K in Damages

Published on: August 31, 2021 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Barred New York Financial Advisor Following Unsuitability & Churning Allegations

If you have suffered investment losses while working with ex-Worden Capital Management broker Christ Elias Baltas, you may be able to pursue damages by filing a Financial Industry Regulatory Authority (FINRA) arbitration claim.

Baltas, who was based out of Melville, New York, is currently named in two pending customer disputes in which the claimants are seeking more than $614K in damage. FINRA barred him in 2020.

Another Ex-Worden Capital Management Broker, Joseph Todaro, is Accused of Excessive Trading

Published on: August 2, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Worden Capital Management Broker’s Customer is Seeking Over $200K in Damages

Joseph Paul Todaro, currently an SW Financial registered representative, is named in a customer dispute in which the claimant is reporting investment losses from excessive trading, failure to follow instructions, and poor services. The investor is seeking over $200K.

This is not the first customer of the Melville, New York-based broker to accuse Todaro of excessive trading. As a matter of fact, three other claims brought by his customers make similar allegations. Also, from 2018 to 2020, Todaro was a registered representative with Worden Capital Management, which last year was subject of a Financial Industry Regulatory Authority (FINRA) action related to the churning activities of its brokers.

FINRA Bars Worden Capital Management Broker Salvatore Pizzimenti Following Churning Allegations

Published on: July 8, 2021 | by Shepherd Smith Edwards & Kantas, LLP

SRO Was Investigating Trading Activity in Customers’ Accounts

The Financial Industry Regulatory Authority (FINRA) has barred Salvatore Pizzimenti from the industry. The ex-Worden Capital Management broker was under investigation for trades made in customers’ accounts. The industry bar came after Pizzimenti refused to give testimony in the self-regulatory organization’s (SRO’s) probe into the allegations.

Salvatore Pizzimenti, a former New York broker, has six disclosures on his BrokerCheck record. Aside from the bar, the other five are customer disputes.