Marc Frederick Korsch of Sarasota Florida a stockbroker registered with Centaurus Financial Inc. is the subject of a customer initiated investment related complaint on June 5, 2019 where the customer sought $53,000.00 in damages based upon accusations that misleading or false information had been provided to the customer between 2014 and 2019 in regard to real estate securities recommended or sold by Korsch to the Centaurus Financial customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Korsch is referenced in two more customer initiated investment related disputes containing allegations of his wrongdoing while associated with Centaurus Financial and Trustmont Financial Group Inc.
On August 22, 2018, a customer initiated investment related arbitration claim involving Korsch’s conduct resulted in the customer being awarded $848,002.31 in compensatory damages and $100,000.00 in punitive damages by FINRA Arbitrators based on Trustmont being found liable for causing the customer’s losses. FINRA Arbitration No. 17-00474 (Aug. 22, 2018).
According to the claim, Trustmont failed to supervise Korsch’s sale of a private real estate investment trust or his annuity exchanges. Omissions or misrepresentations had allegedly been made concerning the securities sold to the customer. The claim also alleged that losses stemmed from fraudulent activities as well as the breach of both a contractual and fiduciary obligation that was owed to the customer.
On October 1, 2018, another customer initiated investment related arbitration claim concerning Korsch’s activities was resolved for $8,000.00 in damages founded on accusations that Korsch’s recommendations concerning annuity exchanges failed to be suitable for the customer and that the fees and penalties were not reasonably explained to the Centaurus Financial customer when transactions were effected. FINRA Arbitration No. 18-01350.
Korsch has been employed by Centaurus Financial since February 10, 2014.