Motion-Secondary: Marev Holdings, Inc. v. Hlm Capital Llc a/k/a HLM Capital Management Group, Charles Margolis

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                                FILED: NASSAU COUNTY CLERK 03/25/2024 04:55 PM                                                          INDEX NO. 619258/2023
NYSCEF DOC. NO. 18                                                                               RECEIVED NYSCEF: 03/25/2024




          SUPREME COURT OF THE STATE OF NEW YORK
          COUNTY OF NASSAU
          --------------------------------------------------------------------------X
          MAREV HOLDINGS, INC.,
                                                                                        Index No.: 619258/2023
                                             Plaintiff,
                                                                                        AFFIRMATION OF
                               -against-                                                MARTIN OLINER

          HLM CAPITAL, LLC, A/K/A HLM CAPITAL                                           Motion Seq. #001
          MANAGEMENT GROUP and CHARLES MARGOLIS,

                                              Defendants.
          --------------------------------------------------------------------------X


                  I, Martin Oliner, President of plaintiff MAREV HOLDINGS, INC., affirm the following

          under penalties of perjury:

                  1.       In approximately 2010, Charlie Margolis contacted me to pitch his investment

          brokerage services. Mr. Margolis was an employee of Wells Fargo bank and I opened several

          accounts with him.

                  2.       In connection with opening various accounts in 2011, I signed documentation on

          behalf of Marev Holdings, Inc.

                  3.       In approximately 2019, Mr. Margolis advised me that he was starting his own firm

          with some of his colleagues under the name HLM Capital and that he was leaving the Wells Fargo

          bank.

                  4.       According to the Illinois Secretary of State’s office, HLM Capital, LLC was formed

          on April 9, 2019. A true and correct copy of the Annual Report of HLM Capital, LLC as filed on

          March 7, 2024, with the Illinois Secretary of State, is attached as Exhibit A.




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FILED: NASSAU COUNTY CLERK 03/25/2024 04:55 PM                                               INDEX NO. 619258/2023
NYSCEF DOC. NO. 18                                                                   RECEIVED NYSCEF: 03/25/2024




                  5.       Mr. Margolis explained to me that his new firm would be using Wells Fargo for a

         limited purpose as a clearing broker to clear trades placed by his new firm. Mr. Margolis conveyed

         to me that his new firm would be independent for all other purposes.

                  6.       Mr. Margolis asked me to bring my business to his new firm to help his new firm

         become established.

                  7.       My clear understanding was that HLM was going to monitor my accounts and

         provide guidance and advice, and not simply clear trades through Wells Fargo.

                  8.       At no time did I sign any documents that included a pre-dispute arbitration

         agreement related to Mr. Margolis or HLM Capital, and I never intended to enter into any

         arbitration agreement with HLM or Margolis. I never understood that prior agreements I had with

         Wells Fargo would apply to my relationship with HLM and Margolis, and in fact, I believe that

         they do not.

                  9.       At no time did Mr. Margolis or anyone else from HLM Capital ask me to sign a

         pre-dispute arbitration agreement related to Mr. Margolis or HLM Capital.

                  10.      At no time did Mr. Margolis or anyone else from HLM Capital inform me that I

         was signing a pre-dispute arbitration agreement related to Mr. Margolis or HLM Capital.

                  11.      At no time have I signed the General Account Agreement and Disclosure Document

         Rev 90 – 12/23 included as exhibit B of the affirmation of Jessica E. Levine.

                  12.      The signature document included as exhibit C of the affirmation of Jessica E.

         Levine does not relate in any way to the General Account Agreement and Disclosure Document

         included as exhibit B of the affirmation of Jessica E. Levine.

                  13.      Wells Fargo discloses to clients that Wells Fargo Advisors Financial Network

         (“WFAFN”) affiliated financial advisors are independent contractors and not employees of Wells



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FILED: NASSAU COUNTY CLERK 03/25/2024 04:55 PM                                               INDEX NO. 619258/2023
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          Fargo. A true and correct copy of a notice from WFAFN setting forth the relationship is attached

          as Exhibit B.

                  14.      A true and correct copy of the “about us” page of the website of HLM Capital as

          displayed on July 9, 2023, is attached as Exhibit C.


          Dated: March 25, 2024

         I affirm this 25th day of March, 2024, under the penalties of perjury under the laws of New York,
         which may include a fine or imprisonment, that the foregoing is true, and I understand that this
         document may be filed in an action or proceeding in a court of law.



                                                                 _________________________
                                                                 Martin Oliner




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