Samuel Kluft Koltun of West Palm Beach Florida a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $180,000.00 in damages supported by accusations that the customer was placed into unsuitable investments including Puerto Rico bonds between December of 2009 and May of 2017. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-03026 (Feb. 28, 2019).
FINRA Public Disclosure reveals that Koltun is referenced in two more customer initiated investment related disputes which pertain to allegations of his violative conduct during the time that he was associated with securities broker dealers including J.B. Hanauer Co. and RBC Capital Markets LLC. Specifically, a customer initiated investment related civil action involving Koltun’s conduct was resolved for $95,000.00 in damages founded on accusations including violation of Florida securities laws; breach of fiduciary duty; misrepresentation and fraud relating to mutual fund products sold by the stockbroker during the period in which he was associated with J.B. Hanauer Co.
Another customer initiated investment related arbitration claim regarding Koltun’s activities was settled for $399,000.00 in damages based upon allegations that omissions were made with regard to the risks or other terms of municipal debt investments Koltun sold during the time that he was employed by RBC Capital Markets LLC. FINRA Arbitration No. 15-02663 (Oct. 10, 2016). Koltun is also the subject of a customer initiated investment related arbitration claim which was resolved for $85,000.00 in damages supported by accusations that Puerto Rico bond recommendations failed to be suitable. FINRA Arbitration No. 16-00903 (Feb. 28, 2017).
In addition, a customer initiated investment related arbitration claim involving Koltun’s conduct was settled for $212,500.00 in damages founded on allegations of the customer’s assets being over-concentrated in bad investments which led the customer to experience unwarranted losses. FINRA Arbitration No. 15-02662 (May 28, 2017).
FINRA Public Disclosure additionally confirms that Koltun has been suspended by National Association of Securities Dealers (NASD) based upon accusations of him making unsuitable mutual fund recommendations while associated with J.B. Hanauer Co. Case No. C9B040060. According to the AWC, Class B mutual fund transactions were not appropriate because they deprived customers from purchasing Class A shares which would have enabled them to take advantage of breakpoint discounts, lower 12B-1 fees and no contingent deferred sales charges. NASD found Koltun’s conduct violative of Rules 2310 and 2110.
Koltun’s registration with RBC Capital Markets has been terminated as of August 8, 2018. Since August 1, 2018, he has been registered with B.B. Graham Company Inc.
