Christ Baltas: 6-Figure Churning Complaint Against Barred Melville Rep

Christ Baltas (CRD# 4127872), a stockbroker and investment adviser last employed by Worden Capital Management, has been named in customer disputes alleging his conduct resulted in losses. Financial Industry Regulatory Authority (FINRA) records disclose that Baltas, formerly based in Melville, New York, has been barred from acting as a broker or otherwise associating with a broker-dealer firm.

According to his BrokerCheck report, Christ Baltas is involved in a pending customer dispute. He was previously involved in a dispute that ended up before a FINRA arbitration panel, which ruled in favor of the customer. FINRA records also describe a 2020 FINRA enforcement action against Baltas. Per FINRA’s findings, he allegedly refused to provide on-the-record testimony requested by the regulator as part of an investigation “involving his supervision of a registered representative’s potentially unsuitable trading recommendations.” FINRA found that his refusal to appear violated FINRA rules, and indefinitely barred him from associating with any broker-dealer firm in all capacities. 

The pending customer dispute involving Christ Baltas was filed by a customer of Worden Capital Management in July 2021. It alleges churning, quantitatively unsuitable recommendations, unauthorized trading, and breach of fiduciary duty. The pending complaint alleges damages of $330,113.

Another 2021 complaint against Christ Baltas alleged fraudulent misrepresentation of material facts, omission of material facts, unsuitable recommendations, an unsuitable trading strategy, “breach of standards of commercial honor and principles of trade,” and a lack of reasonable supervision while he was employed with Worden Capital Management. A FINRA arbitration panel found Baltas liable, issuing an award of $14,419.67.

According to the Financial Industry Regulatory Authority, Christ Baltas holds 20 years of securities industry experience. He is currently barred from acting as a broker. His registration history includes Worden Capital Management (Melville, New York), Wilmington Capital Securities (Melville, New York), Kovack Securities (Fort Lauderdale, Florida), Quest Capital Strategies (Laguna Hills, California), Ladenburg Thalmann & Company (New York, New York), and Ladenburg Capital Management (Bethpage, New York). He has passed the Uniform Securities Agent State Law Examination (Series 63), the Securities Industry Essentials Examination (SIE), the General Securities Representative Examination (Series 7), and the General Securities Principal Examination (Series 24). (Information current as of November 15, 2021).

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