Mark Frederick Augusta (also known as Mark Fred Augusta) a stockbroker registered with Wedbush Securities Inc. and Hilltop Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $250,000.00 in damages based upon allegations that Augusta made misrepresentations to the customer regarding structured products and municipal bonds while he was associated with Wedbush Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00624 (Mar. 24, 2021). According to the claim, Augusta provided unsuitable recommendations to them.
FINRA Public Disclosure reveals that Augusta has been identified in 21 additional customer initiated investment related disputes regarding accusations of Augusta’s misconduct when he was employed by securities broker dealers including Wedbush Securities and Hilltop Securities. On February 7, 2019, a customer initiated investment related FINRA securities arbitration claim regarding Augusta’s activities was resolved for $73,900.00 in damages founded on allegations of misrepresentation and fraud relating to their investments in Puerto Rico bonds. FINRA Arbitration No. 18-00975. The claim also alleges elder abuse and the breach of a contract at Wedbush Securities.
On July 2, 2019, another customer initiated investment related FINRA securities arbitration claim involving Augusta’s conduct was settled for $75,000.00 in damages supported by accusations of the violation of California securities laws and breach of fiduciary duty by the stockbroker in regard to structured CDs that the customer purchased through Wedbush Securities. FINRA Arbitration No. 18-02930.
Augusta is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $87,500.00 in damages based upon allegations of bad investment advice being provided by Augusta and allegations of misrepresentations relating to Augusta’s disciplinary record while registered with Hilltop Securities and Wedbush Securities. FINRA Arbitration No. 18-02498 (Sept. 30, 2019). According to the claim, the securities broker dealers failed to supervise Augusta. The claim also alleges elder abuse.
Augusta is the subject of a different customer initiated investment related FINRA securities arbitration claim which was settled for $75,000.00 in damages founded on accusations that the customer was placed into municipal bonds that were not suitable for them. FINRA Arbitration No. 19-00401 (Nov. 7, 2019). According to the claim, Augusta executed unauthorized bond trades too.
On July 17, 2020, another customer initiated investment related FINRA securities arbitration claim concerning Augusta’s activities was resolved for $25,000.00 in damages supported by allegations of misrepresentations and omissions by Augusta causing the customer to experience damages on municipal bonds. FINRA Arbitration No. 20-00978. The claim alleges a breach of contract and breach of fiduciary duty. According to the claim, the customer was also defrauded.
Augusta is additionally referenced in a customer initiated investment related FINRA securities arbitration claim on August 31, 2020 where the customer requested unspecified damages based upon accusations that the financial advisor made unsuitable and unauthorized transactions. FINRA Arbitration No. 20-02836 (Aug. 31, 2020).
Augusta has been registered with Hilltop Securities as a stockbroker since May 29, 2015 and as an investment adviser representative since May 27, 2015.
