William Nicholas Athas, of Ronkonkoma, New York, a stockbroker formerly registered with K.C. Ward Financial, has been named in a customer initiated investment related arbitration claim on February 16, 2017, in which the customer requested $290,000.00 in damages based upon allegations including: the use of fraudulent or manipulative contrivances or devices; breach of duty of good faith and fair dealing; unauthorized margin use; excessive trading; unauthorized use of discretion; violation of industry standards and FINRA rules; omissions and misrepresentations, breach of fiduciary and contractual duties, negligence, and violation of Texas State Securities Act in reference to over-the-counter equity transactions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Athas has been identified in seven additional customer initiated investment related disputes containing allegations of his misconduct while employed with Liberty Partners Financial Services, LLC, J.P. Turner & Company L.L.C., Emmett A. Larkin Company, Inc., and Seaboard Securities Inc. Specifically, on March 10, 2004, a customer initiated investment related written complaint involving Athas’ conduct was settled for $8,600.00 in damages based upon allegations that Athas charged the customer with excessive commissions and effected over-the-counter equity trades in the customer’s account on an unauthorized basis.
On January 22, 2006, a customer initiated investment related written complaint regarding Athas’ activities was resolved for $40,000.00, based upon allegations that Athas effected unauthorized over-the-counter equity trades in the customer’s account. Further, on September 28, 2010, a customer initiated investment related arbitration claim involving Athas’ conduct was settled for $30,000.00 in damages based upon allegations that Athas breached his contractual duties, churned the customer’s account, effected transactions which were not suitable, negligently managed the customer’s investments, and omitted and misrepresented facts concerning stock trades.
Additionally, on August 2, 2012, a customer initiated investment related arbitration claim regarding Athas’ activities was resolved for $10,000.00 in damages based upon allegations that he excessively traded and churned the customer’s investment account in reference to over-the-counter equities.
Athas’ securities registration with K.C. Ward Financial ended on August 2, 2016. Since July 21, 2016, he has been registered with Worden Capital Management LLC.
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