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

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.  

Our New York broker misconduct attorneys represent investors who lost money because their financial advisors made recommendations that were unsuitable for their investing profiles or engaged in some other type of misconduct or negligence. Contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today if you worked with ex-Worden Capital broker Christ Baltas and you are wondering whether you have grounds for a claim. 

Ex-Worden Capital Management LLC Broker Facing Multiple Customer Disputes

The former Worden Capital Management broker currently has five disclosures on his BrokerCheck record including:

  • July 2021: This claimant is seeking over $330K in damages. Allegations include churning, quantitative unsuitability, unauthorized trading, breach of fiduciary duty, and other claims.  
  • April 2021: Alleging fraudulent misrepresentations and omissions, unsuitable trading strategies, lack of reasonable supervision, and failure to act with high standards of commercial honor, this investor is requesting more than $284K in damages.
  • September 2020: FINRA indefinitely barred Baltas. He consented to the sanction without denying or admitting to the findings. He also refused to provide on-the-record testimony. The self-regulatory organization’s (SRO’s) probe was related to his supervision of another broker’s possibly unsuitable trading recommendations.

The other two disclosures included are judgment/liens.

During his 20 years as a broker, Christ Baltas was previously registered at five other firms: Wilmington Capital Securities, Kovack Securities, Quest Capital Strategies, Ladenburg, Thalmann, & Co., and Ladenburg Capital Management.

Worden Capital Management Settles With FINRA for Over $1.5

It was just in December 2020 that Worden Capital Management reached a more than $1.5M settlement with FINRA over allegations that its failure to supervise its brokers allowed them to churn. This term refers to excessive trading done for the purposes of earning more commissions. Churning is not in the best interests of customers. Watch SSEK Law Firm Partner and experienced churning fraud attorney Kirk Smith explain how you can recover damages after events such as this:

Because of the allegedly excessive trading, Worden Capital clients ended up paying more than $1.2M in commissions.

SSEK Law Firm represents investors throughout the US that have been wronged by brokers or brokerage firms. Contact us today or call (716) 261-3529 to speak with one of our knowledgeable New York securities lawyers. You can also reach us throughout the US at (800) 259-9010

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