The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Mark Martino (CRD: 1010228, White Plains, New York). Not only has FINRA sanctioned Martino for failing to perform due diligence, but investors disputed the sales practices of the securities broker. However, Martino denies the allegations. Read on to learn more about the allegations against Martino.
FINRA Sanctions Martino For Unreasonable Due Diligence
Evidently, on June 15, 2022, FINRA issued Case: 2019084535602, sanctioning Mark Martino for infractions. Specifically, Martino agreed to pay a $10,000 fine and serve a 20-day suspension. Particularly, FINRA alleged that Martino failed to perform due diligence on a private placement offering involving a Canadian start-up company, True Pharmastrip Inc. Supposedly, Martino knew of red flags, including a lawsuit against the issuer. However, he still recommended the offering to clients of Ascendant Alternative Strategies LLC. Notably, FINRA says that he violated FINRA rules relating to suitability of transactions and supervision at the securities firm.
Mark Martino Sanctioned By Massachusetts Consent Order
Also, Massachusetts Securities Division issued Case: R-2021-0088 on October 12, 2021, sanctioning Mark Martino for his Form U4 disclosures. Therefore, Martino was required to be on heightened supervision to maintain his securities registration.
Ascendant Alternative Strategies LLC Investor Takes Aim At Martino
Additionally, on March 13, 2021, an Ascendant Alternative Strategies LLC client filed an AAA Arbitration about Mark Martino. Namely, the client alleged that Martino made misrepresentations, was negligent, acted unethically, and violated state laws. Because of this, the client allegedly sustained damages on GPB products. Therefore, the client requested compensation from Ascendant Alternative Strategies LLC or Martino. Evidently, this arbitration is pending a resolution.
Mark Martino Discloses Violation Of State Law Allegations By Ascendant Alternative Strategies LLC Client
Also, a client of Ascendant Alternative Strategies LLC contested Mark Martino’s sales practices by filing Civil Suit: 1:19-cv-01079-LY on March 17, 2020. Allegedly, Martino violated state laws. Supposedly, Martino possibly caused the client to sustain damages on limited partnership interests in companies sponsored by GPB. Therefore, the client requested compensation from Ascendant Alternative Strategies LLC or Martino. Evidently, this matter is ongoing.
Ascendant Alternative Strategies LLC Investor Accuses Martino Of Violation Of State Law
Evidently, on December 17, 2019, an Ascendant Alternative Strategies LLC client filed Civil Suit: 656982/2019 about Mark Martino. Namely, the client alleged that Martino violated state laws. Because of this, the client allegedly sustained damages on limited partnership interests in GPB Holdings II LP. Therefore, the client requested compensation from Ascendant Alternative Strategies LLC or Martino. Evidently, this civil suit is pending a resolution.
Ascendant Alternative Strategies LLC Investor Accuses Mark Martino Of Violation Of State Law
Additionally, a client of Ascendant Alternative Strategies LLC contested Mark Martino’s sales practices by filing Civil Suit: 1:19-cv-01050 on October 28, 2019. Allegedly, Martino violated state laws. Supposedly, Martino possibly caused the client to sustain damages on limited partnership interests in companies sponsored by GPB. Therefore, the client requested compensation from Ascendant Alternative Strategies LLC or Martino in this ongoing matter.
- Martino stopped working for Ascendant Alternative Strategies LLC on February 12, 2021.
Did Ascendant Alternative Strategies LLC Securities Broker Mark Martino Cause You To Experience Damages?
Have you experienced damages by investing with Mark Martino? If so, contact Soreide Law Group at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and will advance all costs. Martino and brokerage firms Martino worked for deny any and all allegations of sales practice violations.
