Michael B. Mountjoy (Mike Mountjoy) – Financial Advisor/Broker Mike Mountjoy Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Michael Mountjoy (Mike Mountjoy) CRD #4421573
Mike Mountjoy was a previously licensed financial advisor/broker with LPL Financial LLC. According to FINRA, Mike Mountjoy was fined $10,000 and suspended from the securities industry for six months in May 2020.
According to FINRA Allegations:
Beginning in April 2014 and continuing until November 2017, Mike Mountjoy solicited investors, consisting of friends and business associates, to purchase interests in an LLC formed to invest in a minor league professional soccer team based in Louisville, Kentucky. He failed to provide the Firm with prior notice or obtain the Firm’s advance approval. Mike Mountjoy solicited a total of $378,000 in investments in the LLC from four individuals. Among other things, Mountjoy provided investors with the subscription agreement and other written materials and communicated with them verbally and by email to inform them about and encourage them to purchase interests in the LLC. Mountjoy did not receive any compensation for soliciting the investments, nor did he represent or otherwise suggest that the investments had been approved by the Firm. By virtue of the foregoing, Mountjoy violated NASD Rule 3040 and FINRA Rules 3280 and 2010.
Mike Mountjoy also failed to provide written notice to the Firm prior to engaging in two outside business activities. Beginning in 2013 and continuing until his termination from LPL in 2018, Mountjoy was a member and treasurer of an LLC that owned and leased real estate; and, also a co-owner and board member of another LLC that owned a fund created to promote foreign investments in Indiana and Kentucky. Mountjoy failed to disclose either outside business activity on his annual compliance questionnaires, despite a question asking him whether he had disclosed all outside business activities. By virtue of the foregoing, Mountjoy violated FINRA Rules 3270 and 2010.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Mike Mountjoy 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 Mike Mountjoy’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 $180 million on behalf of victimized investors. If you lost money on investments with Mike Mountjoy 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 5/5/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.
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