Goodman & Nekvasil P.A, May Recover Investor Losses on Commodity Trading – Mehrdad Michael Farhat (Michael Farhat) Suspended by FINRA and Fired by LPL Financial LLC
From 2010 until Michael Farhat’s firing in 2012, Michael Farhat was licensed with LPL Financial LLC. Michael Farhat was also licensed with First Allied Securities, Inc. from 2012 until 2013. According to FINRA’s records, Michael Farhat was fired by LPL Financial LLC on April 9, 2012. LPL Financial LLC reported to FINRA that Michael Farhat was fired for engaging in an undisclosed outside business activity involving commodities.
Subsequent to Michael Farhat’s firing, FINRA brought a disciplinary action against Michael Farhat on May 7, 2014. Michael Farhat consented to a 6-month suspension and a $10,000 monetary fine. FINRA reports that Michael Farhat consented to the entry of findings that Michael Farhat became actively involved in the operations of a non-FINRA-member commodity trading advisor, Opes Capital Group, LLC. According to FINRA, Michael Farhat conducted market research and solicited individuals, including his firm customers, to provide funds to the commodity trading advisor. The findings state that Michael Farhat earned $33,407.66 in compensation from the commodity trading advisor and provided false information to his firm, LPL Financial LLC, concerning engagement of the outside business activity.
If you lost any money on investments with Michael Farhat, including investments with Opes Capital Group, LLC, you may be able to recover your losses from LPL Financial LLC and/or First Allied Securities, Inc. This is because LPL Financial LLC and First Allied Securities, Inc. had a duty to supervise Michael Farhat.
If you lost money on investments with Michael Farhat, including investments with Opes Capital Group, LLC, 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 LPL Financial LLC and/or First Allied Securities, Inc., concerning Michael Farhat’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 any other investments with Michael Farhat 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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