Michael T Norvet (Michael Norvet) – Michael Norvet Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
On June 19, 2017, Titan Securities (CRD No. 131392) filed an initial non-registered fingerprint form for Norvet identifying his employment start date with the firm as November 12, 2007. Norvet was associated with the firm in an unregistered capacity.
On January 25, 2019, Titan Securities filed a non-registered fingerprint amendment form disclosing that it terminated Norvet’s employment with the firm that day. Norvet is not currently registered or associated with a FINRA member firm. However, he remains subject to FINRA’s jurisdiction pursuant to Article I, Section (rr) and Article V, Section 4 of FINRA’s By-Laws.
According to FINRA, Michael Norvet was suspended from the securities industry for five months and fined $10,000 in December 2020.
According to FINRA Allegations:
Between July 2016 and January 2019, issuers Evolution RE Bishop’s Lodge LP (Bishop’s Lodge) and Evolution RE Hall Arts Hotel LP (Hall Arts) conducted private placements, selling units to investors, including through Titan. Between February 2017 and March 2018, Norvet was involved in managing both entities and in addition to approving the private placement memoranda (PPM), he controlled the entities’ bank accounts and transferred more than $4.3 million from Hall Arts to Bishop’s Lodge, which was ultimately returned from Bishop’s Lodge to Hall Arts. Norvet failed to disclose the transfers to Hall Arts’ investors, and Bishop’s Lodge’s offering documents inaccurately included the funds received from Hall Arts as proceeds from the offering. In addition, between January 2017 and May 2017, Norvet used proceeds from the Hall Arts and Bishop’s Lodge offerings to pay certain limited expenses of an unrelated partnership, without disclosing that use of proceeds to investors in Hall Arts or Bishop’s Lodge.
Norvet’s conduct contravened Section 17(a)(2) of the Securities Act of 1933 (the Securities Act), thereby violating FINRA Rule 2010.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Michael Norvet 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 Norvet’s 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 $200 million on behalf of victimized investors. If you lost money on investments with Michael Norvet 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.
Some of the information in this blog post was obtained on 12/11/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.