MARK GERARD SONNTAG of NSC

The Florida-based Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:
NATIONAL SECURITIES CORPORATION (NCS), and their registered representative, MARK GERARD SONNTAG (Respondents).
The Claimant is a retiree living in Florida.  The lawsuit alleges that the Respondents knew he was living on a fixed income, and looking to supplement his retirement.  Allegedly, the Claimant received a cold call from NSC broker, MARK GERARD SONNTAG, on or about 2018. The lawsuit alleges that MARK GERARD SONNTAG knew the Claimant was looking for safe investments to generate a stable retirement income. Allegedly, the Respondents recommended GWG Holdings “L” bonds and presented it to the Claimant as safer than the stock market with little to no risk with it not being correlated to equities. The Claimant allegedly followed the Respondent’s advice and purchased one GWG L bond for $75,000.
On April 20^th, 2022, GWG Holdings filed Chapter 11 bankruptcy which could potentially wipe out a significant portion of the Claimant’s life savings. The lawsuit alleges that it was unsuitable to concentrate over $75,000 of the Claimant’s investments into a high-risk, unrated bond.
The lawsuit alleges that NSC and their representative, MARK GERARD SONNTAG’s actions have caused damages to the Claimant of approximately $75,000.00. The lawsuit alleges: negligence and negligent supervision. It is anticipated the Respondents will deny all claims.
GWG L Bond investors have sustained significant losses. By September 2021, GWG had more than $2 billion in total liabilities, including $1.55 billion in L Bonds. GWG Holdings began publicly offering and selling L Bonds in January 2012 up until April 2021.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, MARK GERARD SONNTAG, has been in the securities industry for 32 years and has no disclosures on his FINRA CRD report.  Sonntag has been listed both as a broker and as a financial advisor with 13 firms.  He has been listed with the following firm since 11/22/2013: 
NATIONAL SECURITIES CORPORATION
7373 College Parkway Suite 308
Ft. Myers, FL 33907 
If you’ve experienced financial losses, particularly in GWG Bonds, allegedly due to the recommendation of MARK GERARD SONNTAG, currently with NATIONAL SECURITIES CORPORATION of Ft. Myers, Florida, contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee if no recovery, and represents our clients nationwide before FINRA.