KlaymanToskes Investigates Former Worden Capital and K.C. Ward Financial Broker
National investment fraud lawyers KlaymanToskes (“KT”) is investigating the misconduct of William Nicholas Athas (“Athas”), who is a former Worden Capital and K.C. Ward Financial broker, in light of the Financial Industry Regulatory Authority’s (“FINRA”) complaint filed against him in January 2022.
According to FINRA, from December 2014 through April 2020, Athas churned and excessively traded nine accounts of seven different customers while he was associated with K.C. Ward Financial and Worden Capital. Excessive trading occurs when a broker recommends a high number of trades that, in the aggregate, do not align with the customer’s investment goals and financial circumstances. Athas allegedly opened customer accounts through cold calling, in which he touted his sophistication and knowledge of financial markets and promised significant returns. Athas then allegedly churned and excessively traded in the accounts, causing customers to pay approximately $1.6 million in commissions and other trading costs, and to suffer approximately $1.1 million in losses.
According to securities attorney Lawrence L. Klayman, Esq. “Brokerage firms like K.C. Ward Financial and Worden Capital have a duty to investigate and act upon red flags that suggest excessive and unsuitable trading in customer accounts. The firms’ potential failure to supervise may be a cause of action in a FINRA securities arbitration claim.”
The sole purpose of this release is to investigate Worden Capital and K.C. Ward Financial’s supervisory practices concerning excessive trading for potential FINRA violations, including a failure to supervise. Former customers of William Athas with losses in excess of $250,000, and those who have information relating to the manner in which he handled customer accounts, are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131, and download our Special Investor Report.
Destination: https://klaymantoskes.com/william-athas-excessive-trading-investigation/
About Us
KT is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $225 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.
Lawrence L. Klayman
KlaymanToskes
+1 561-542-5131
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