MARK AUGUSTA Purportedly Breached Fiduciary Duty

Wedbush and Hilltop Clients Indicate That Broker Mark Augusta Committed Sales Practice Violations

Soreide Law Group is investigating potential investor claims against broker Mark Fred Augusta [CRD#: 1333913, Del Mar, California]. Notably, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck identifies 19 or more clients who seemingly experienced losses because of Augusta, who worked for Wedbush Securities from 2011 to 2015 before joining Hilltop Securities in 2015. Notably, Mark Augusta’s clients suggest that he traded without authorization, executed unreasonable trades and more. The following contains a summary of recent investor claims about Augusta:

Wedbush Securities Client Suggests That Mark Augusta Made Unauthorized Bond Purchase

Evidently, a client of Wedbush Securities contested Mark Augusta through filing FINRA Arbitration #: 19-00401 on February 13, 2019. Allegedly, Augusta bought or sold investments without the client’s permission. Also, Augusta’s trading was not supported by the client's goals, risk tolerance or other criteria relating to suitability. It seems that the Puerto Rico municipal bonds which Augusta sold had caused the client to sustain losses. Consequently, Wedbush Securities agreed to settle the client’s dispute on November 7, 2019 through paying the client $75,000.

Client Of Wedbush and Hilltop Indicates Augusta Breached Fiduciary Duty

Apparently, on July 10, 2018, a Wedbush Securities and Hilltop Securities client filed FINRA Arbitration #: 18-02498 about Mark Augusta. Supposedly, Augusta initiated transactions that Wedbush or Hilltop did not supervise. Not only that, but the client alleged elder abuse and the breach of a fiduciary duty on Augusta’s part in connection with investment transactions.  It appears that the securities broker recommended bad fixed income investments among other things. For this reason, on September 30, 2019, Wedbush Securities and Hilltop Securities settled this client’s dispute by way of paying the client $87,500.

Mark Augusta Allegedly Misrepresents Facts To Wedbush Securities Client

Evidently, a client of Wedbush Securities filed FINRA Arbitration #: 18-02930 on August 27, 2018. Allegedly, Augusta executed negligent and unlawful structured CD transactions. Notably, the client contended that there were violations of California securities laws in connection with those transactions. Supposedly, the securities broker falsified or omitted facts relevant to the client’s investments. It seems that Augusta also negligently recommended or sold investments. It appears that the structured products which Augusta recommended or sold had caused the client to incur losses. As a result, Wedbush Securities agreed to resolve the matter on July 2, 2019 through paying the client a total of $75,000.

Augusta Allegedly Deceives Wedbush Securities Client

Supposedly, on February 7, 2019, a Wedbush Securities client filed FINRA Arbitration #: 18-00975 concerning Mark Augusta’s allegedly deceptive actions which caused the client to experience losses. First of all, the client contended that Augusta failed to comply with his fiduciary responsibility to the client. Secondly, the securities broker also breached a written contract governing the client’s investment affairs. Thirdly, the client claimed that Augusta committed elder financial abuse through concealing information or misrepresenting facts about Puerto Rico bonds. Consequently, on February 7, 2019, Wedbush Securities settled this dispute by paying the client $73,900.

Losses From Wedbush Securities Broker Mark Augusta?

Have you experienced losses by investing with Mark Augusta? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Augusta and brokerage firms.