Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Centaurus Financial Stockbroker Sanctioned By FINRA For Selling GWG Bonds

Sign of the Financial Industry Regulatory Authority

Marc Frederick Korsch, of Sarasota, Florida, a stockbroker formerly registered with Centaurus Financial Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to cooperate with FINRA’s request for information about his activities. Case No. 2020066487801 (December 27, 2021).

FINRA Public Disclosure shows that Korsch was issued a Notice of Suspension letter on December 1, 2021, and this suspension went into effect on December 27, 2021. FINRA indicated that it would bar Korsch by March 4, 2022, if Korsch fails to request the termination of the suspension.

FINRA Public Disclosure shows that Korsch has been identified in seventeen customer initiated investment related disputes regarding accusations of his harmful activities while employed by securities broker dealers, including Centaurus Financial and Trustmont Financial Group. On September 20, 2021, a customer filed an investment related arbitration claim involving Korsch’s conduct in which the customer sought $700,000.00 in damages supported by allegations of Korsch’s unsuitable recommendations concerning real estate securities and insurance products while at Centaurus Financial and Trustmont Financial Group. FINRA Arbitration No. 21-02322.

Korsch is also referenced in a customer initiated investment related arbitration claim where the customer requested $150,000.00 in damages based upon accusations of breach of fiduciary duty by Korsch concerning oil and gas securities and real estate securities. FINRA Arbitration No. 21-02737 (November 4, 2021). The claim alleges that Korsch misrepresented risks and effected unsuitable trades when he was registered with Centaurus Financial.

Korsch is the subject of a different customer initiated investment related FINRA securities arbitration claim in which the customer sought $100,000.00 in damages supported by accusations of misrepresentation by Korsch concerning alternative investment transactions at Centaurus Financial and Trustmont Financial Group. FINRA Arbitration No. 21-02821 (November 18, 2021). According to the claim, the customer sustained damages on unsuitable investments, including real estate securities, direct investments, and annuities, between 2013 and November of 2021.

Korsch is also identified in a customer initiated investment related arbitration claim where the customer requested $300,000.00 in damages based upon allegations that between 2014 and 2021, Korsch made misrepresentations to the customer concerning the risks of oil and gas securities. FINRA Arbitration No. 21-02995 (December 15, 2021). The claim alleges negligence and the sale of unsuitable investments. According to the claim, Korsch breached a fiduciary duty to the customer while at Centaurus Financial.

On January 4, 2022, another customer initiated investment related complaint regarding Korsch’s activities was resolved for $18,500.00 in damages founded on allegations of unsuitable real estate security, oil and gas security, mutual fund, and variable and fixed annuity transactions for the Centaurus Financial customer.

Korsch was employed by Centaurus Financial between February 10, 2014, and February 5, 2021. He was employed by Arkadios Capital between March 1, 2021, and September 3, 2021.