INVESTORS: Former Centaurus Financial broker Marc Frederick Korsch is facing customer disputes alleging unsuitable recommendations of GWG L Bonds to customers.
Marc Frederick Korsch (CRD#: 5525226) was registered as a broker with Centaurus Financial from 2014 until 2021. Korsch was also registered as a broker with Arkadios Capital from March until September of 2021. Sonn Law previously reported on Korsch’s unsuitable investment recommendations in November 2021.
Since our last report, Korsch has received seventeen additional disclosures on his BrokerCheck report.
May 2022 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative recommended unsuitable, high-risk, and illiquid investments. No dates of alleged activity were disclosed in the Statement of Claim.
Damage Amount Requested: $235,000.00
May 2022 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative recommended unsuitable, complex, high-risk, speculative and illiquid investments and breached his fiduciary duty. In that there are multiple claimants that have no correlation, there are various dates with respect to the alleged activities in the Statement of Claim.
Damage Amount Requested: 465,000.00
May 2022 Customer Dispute
Status: Pending
Allegations: During the period July 2020 through November 2020 the customer alleges that the Registered Representative recommended and over concentrated the customer’s portfolio in illiquid and risky private investments.
Damage Amount Requested: $300,000.00
April 2022 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative recommended unsuitable, complex, high-risk, speculative and illiquid investments and breached his fiduciary duty. In that there are multiple claimants that have no correlation, there are various dates with respect to the alleged activities in the Statement of Claim.
Damage Amount Requested: $300,000.00
April 2022 Customer Dispute
Status: Pending
Allegations: During the period 2014 to present, the customers allege that the Registered Representative recommended illiquid, unsuitable, high risk and high fee investments.
Damage Amount Requested: $610,000.00
April 2022 Customer Dispute
Status: Pending
Allegations: During the period 2014 to present, the customers allege that the Registered Representative recommended and misrepresented illiquid, unsuitable and inappropriate asset allocations/investments.
Damage Amount Requested: $310,000.00
April 2022 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative recommended unsuitable, high-risk and high fee investments. No dates are provided within the Statement of Claim.
Damage Amount Requested: $330,000.00
April 2022 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative recommended unsuitable, illiquid, high-risk, high fee investments and failed to maintain an appropriate asset allocation. No dates are provided within the Statement of Claim.
Damage Amount Requested: $580,000.00
February 2022 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative recommended unsuitable, high-risk, and illiquid investments. No dates of alleged activity were disclosed in the Statement of Claim.
Damage Amount Requested: $250,000.00
December 2021 Customer Dispute
Status: Pending
Allegations: During the period 2014 through February 2021, the customer alleges that the Registered Representative was negligent and misrepresented extremely high risk and unsuitable investments and breached his fiduciary duty.
Damage Amount Requested: $300,000.00
December 2021 Regulatory Judgment
Status: Final
Initiated By: FINRA
Allegations: Respondent Korsch failed to respond to FINRA requests for information.
Resolution: Letter
Bar: Bar (Permanent)
Registration Capacities Affected: All Capacities
Duration: Indefinite
Start Date: 3/4/2022
Regulator Statement: Pursuant to FINRA Rule 9552(h) and in accordance with FINRA’s Notice of Suspension and Suspension from Association letters dated December 1, 2021 and December 27, 2021, respectively, on March 4, 2022, Korsch is barred from association with any FINRA member in all capacities. Korsch failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.
November 2021 Customer Dispute
Status: Pending
Allegations: During the period 2013 through November 2021, the customer alleges that the Registered Representative misrepresented high risk and unsuitable investments.
Damage Amount Requested: $100,000.00
November 2021 Customer Dispute
Status: Pending
Allegations: While the Registered Representative was affiliated with Trustmont Financial Group, specifically 2013 through 2014, the customers invested approximately $245,000. The customer alleges that the Registered Representative recommended investments in high-commission, unsuitable, complex and risky investments
Damage Amount Requested: $500,000.00
November 2021 Customer Dispute
Status: Settled
Allegations: The customer, through her attorney, alleged that the Registered Representative concentrated her estate’s portfolio in unsuitable investments.
Damage Amount Requested: $45,000.00
Settlement Amount: $18,500.00
November 2021 Customer Dispute
Status: Pending
Allegations: The customers allege that the Registered Representative misrepresented high risk, unsuitable investments and breached his fiduciary duty. No dates are provided within the Statement of Claim.
Damage Amount Requested: $150,000.00
November 2021 Customer Dispute
Status: Pending
Allegations: During the period 2015 through February 2021, the customers allege that the Registered Representative misrepresented high risk, unsuitable investments and breached his fiduciary duty.
Damage Amount Requested: $200,000.00
If you have any information about Marc Frederick Korsch that you would like to share or discuss, please call our firm for a confidential consultation. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.
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