Christ Elias Baltas of Melville New York a stockbroker formerly registered with Worden Capital Management LLC has been referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $284,108.07 in damages supported by allegations of unsuitable recommendations to the customer in regard to common and preferred stock and over-the-counter equities during the time that Baltas was associated with Worden Capital Management. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01007 (Apr. 28, 2021).
According to the claim, from August of 2015 to January of 2020, the stockbroker made fraudulent misrepresentations relating to the customer’s investments in equities. The claim alleges that the trading strategy used for the customer’s account was unsuitable and that Baltas failed to supervise the stockbroker at Worden Capital Management which resulted in damages.
FINRA Public Disclosure also discloses that Baltas has been barred from associating with any FINRA member in any capacity based upon findings that he refused to cooperate with FINRA when he was investigated for potentially failing to supervise a stockbroker of Worden Capital Management who made unsuitable recommendations to a customer. Letter of Acceptance Waiver and Consent No. 2018057883101 (Sept. 22, 2020).
According to the AWC, on August 7, 2020, Baltas was asked by FINRA to testify about his supervision of a Worden Capital Management stockbroker. The AWC stated that Baltas informed the regulator that he would not cooperate with its request. The stockbroker’s failure to testify precluded FINRA from determining whether the customer had been harmed by a stockbroker under Baltas’ supervision. Baltas violated FINRA Rules 2010 and 8210.
Baltas was associated with Worden Capital Management between December 3, 2015 and May 29, 2020.
