Broker Investigation: Michael Joseph Clarke

Michael Joseph Clarke (CRD#: 1078211) is a registered FINRA broker. Currently, Mr. Clarke is employed at Avatar Capital Group in Jersey City, New Jersey. This broker has also worked at Marv Capital (2015-2016), Traditional Asiel Securities (2010-2015), and Whitaker Securities (2008-2010).

On June 15th, 2018, FINRA filed a complaint against Mr. Clarke alleging that he unlawfully converted more than $600,000 in funds. Here, our investment fraud attorneys review the complaint against Michael Joseph Clarke. All information contained in this post comes from Disciplinary Proceeding No. 2016050938301.

FINRA Complaint: Michael Joseph Clarke

The alleged misconduct in this case occurred between October of 2015 and April of 2016. At that time, Michael Joseph Clarke was employed at Marv Capital Inc. in New York City. FINRA alleges that Mr. Clarke made material misrepresentations to certain securities industry contacts.

More specifically, investigators contend that Mr. Clarke unlawfully converted nearly $600,000 in funds to pay off his own personal expenses. Regulators allege that this conduct is a violation of FINRA Rule 2010, which requires securities industry representatives to uphold high standards of commercial honor and integrity.

As of early July, this complaint is pending. FINRA is requesting appropriate sanctions against this broker. This could potentially include a suspension, fines, payment of full financial restitution, and the disgorgement of ill gotten gains.

Speak to an Investment Fraud Attorney Now

At Sonn Law Group, we are proud to be strong advocates for investors throughout the United States and North America. If you were the victim of broker misconduct, please do not hesitate to reach out to our law firm for a free review of your case.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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