Michael Clarke – Michael Joseph Clarke, Complaint Filed by FINRA | Goodman & Nekvasil P.A., May Recover Investor Losses
Michael Clarke, Michael Joseph Clarke CRD #1078211
Michael Clarke is licensed with Avatar Capital Group LLC. Michael Clarke was previously licensed with Marv Capital Inc. and Tradition Asiel Securities, Inc.
ACCORDING TO FINRA: Michael Clarke was named a respondent in a FINRA complaint alleging that Michael Clarke converted nearly $600,000 from his colleagues, supervisors, and the entities they controlled. The complaint alleges that Michael Clarke deposited all of these funds in his personal bank accounts and converted these funds, using them to pay for personal expenses and to repay other creditors. To date, Clarke has not repaid nearly $590,000, or paid any interest. The complaint also alleges that Clarke made multiple misrepresentations to induce securities industry contacts, including his colleagues at his member firm, and the entities they controlled, to provide him with the funds he converted. To induce these people to give Michael Clarke money, he falsely stated he would use the money to purchase various tickets through his approved outside ticket brokering business that he would resell for a profit, place a portion of the funds in an escrow account, and repay his colleagues, with interest, by a specific date. But the tickets did not exist, the deposit into escrow was fictitious, and Clarke did not intend to repay the money. The complaint further alleges that Michael Clarke wrote and tendered checks, and authorized electronic payments that he knew or should have known would not clear. Michael Clarke wrote checks to various payees and creditors that failed to clear, due to insufficient funds in his bank accounts. The failed payments totaled $479,883.
If you lost money on investments with Michael Clarke and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Michael Clarke conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Michael Clarke and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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