Worden Capital Management

Client Alleges Broker Robert Yasnis Churned Accounts

August 27, 2018 | Silver Law Group

Broker Robert Ruvein Yasnis (CRD #2399141) is a currently registered broker employed with Worden Capital Management LLC (CRD #148366) of New York, NY. His previous employers include Laidlaw & Company (UK) Ltd. (CRD #119037) of Melville, NY, Buckman, Buckman & Reid, Inc. (CRD #23407) of New York, NY, and Stephen A. Kohn & Associates, Ltd. (CRD #41067) of Lakewood, CO. He has been registered with a total of 18 brokerages (four of which have been expelled by FINRA) and has been in the industry since 1993.

Display of stock market quotes

Yasnis is the subject of a currently pending customer dispute in which he is alleged to have engaged in “churning, unauthorized and unsuitable trading from 2014-2017.” The client is requesting damages of $148,119.00.

Donald Fowler Charged With Excessive Trading And Churning

August 7, 2018 | Silver Law Group

Broker Donald Fowler (CRD #4989632) is a broker currently registered with Worden Capital Management LLC (CRD #148366) of Rockville Center, New York. He has been with Worden since 2014. He was previously employed by J.D. Nicholas & Associates, Inc. (CRD #44791) of Syosett, NY, and American Capital Partners, LLC (CRD #119249) of Wantagh, NY. He has been in the industry since 2005.

sec-300x198 Fowler, along with another Worden broker, is the subject of an SEC complaint regarding excessive trading, churning, and what the SEC calls an “in-and-out” trading strategy. This generated bigger fees for himself and the other broker who was charged, but caused clients to suffer significant losses as a result.

Fowler is alleged to have recommended the strategy to his 27 clients at now-defunct J.D. Nicholas & Associates without any reason to believe it would benefit any one of them. He knew, or should have known, that the cost structure and nature of the trading would cause them all to lose money. Furthermore, at least three of his 27 accounts were the subject of “churning” (excessive training to generate more commissions and fees.) Both of these practices violated antifraud provisions in federal trading laws. This action is listed as “pending.”

Worden Capital’s Broker Gregory Dean Charged With Churning

August 7, 2018 | Silver Law Group

Stockbroker-Misconduct-1-300x150-300x150 Gregory Dean (CRD #4922996), currently employed with Worden Capital Management of Rockville, NY (CRD #148366) is the subject of multiple disclosures, mostly customer complaints. He is also the subject of a civil SEC complaint and one regulatory complaint, going back to 2013.

Dean’s previous employers include:

D. Nicholas & Associates, Inc. (CRD #44791) of Syosett, NY, from 01/16/2007 through 11/24/2014