Goodman & Nekvasil P.A, May Recover Investor Losses on Real Estate Investments – James Michael Johnson (Mike Johnson) Suspended by FINRA and Fired by First Allied Securities, Inc.
From 2012 until Mike Johnson’s firing in 2013, Mike Johnson was licensed with First Allied Securities, Inc. Previously, Mike Johnson was employed by Commonwealth Financial Network, from 2006 until his termination in 2012. According to FINRA’s records, Mike Johnson was fired by First Allied Securities, Inc. on October 30, 2013. First Allied Securities, Inc. reported to FINRA that Mike Johnson was fired for violating firm policy by placing trades in a customer account without speaking to the actual customer. Preceding this, Commonwealth Financial Network reported to FINRA that Mike Johnson was terminated for failing to report undisclosed outside business activities involving, but not limited to, real estate investments.
FINRA reports that an arbitration claim was filed alleging that Mike Johnson induced an investment in West Virginia Farm Properties, LLC. based on fraudulent misrepresentations. The arbitration claim sought $470,000 and was settled for the amount of $600,000.
Subsequent to Mike Johnson’s firing by First Allied Securities, Inc., FINRA brought a disciplinary action against Mike Johnson. Mike Johnson consented to a 2-year suspension and a $50,000 monetary fine. FINRA reports that Mike Johnson consented to the entry of findings that Mike Johnson induced customers to invest in a real estate investment, West Virginia Farm Properties, LLC, through negligent misrepresentations and omissions.
If you lost any money on investments with Mike Johnson, including investments in West Virginia Farms Properties, LLC, you may be able to recover your losses from First Allied Securities, Inc. and/or Commonwealth Financial Network. This is First Allied Securities, Inc. and Commonwealth Financial Network had a duty to supervise Mike Johnson.
If you lost money on investments with Mike Johnson and believe that 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 against First Allied Securities, Inc. and/or Commonwealth Financial Network concerning Mike Johnson’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 $300 million on behalf of victimized investors. If you lost money on investments with Mike Johnson 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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