Advisor Alert: Our Attorneys Are Investigating James Michael Armour For Investment Fraud
Did You Lose Money Because of James Armour?
Filed: March 20, 2024
James Armour (also known as James M Armour) has been the subject of three (3) customer complaints and one (1) regulatory event. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on James Michael Armour.
Who Is James Michael Armour of Ausdal Financial Partners, Inc.?
- Advisor Name: James Michael Armour
- Aliases: James M Armour
- CRD: 705645
- Location: Wayzata, Minnesota
- Current Employer: Ausdal Financial Partners, Inc.
- Previous Firms: Workman Securities Corporation
- Number of Known Customer Complaints: 3
- Number of Known Regulatory Events: 1
- Can James Armour Be Sued: Yes, in Private Arbitration
- Can James Armour’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $332,011
- Highest Settlement: $1,250,000
If you have suffered investment losses by James Armour, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against James Armour For Broker Misconduct
As of this publication date, James Armour has been the subject of 3 customer disputes and 1 regulatory event. Let’s review them below.
In November 2022, a FINRA arbitration was filed against or in reference to James Armour by a customer of Ausdal Financial Partners, Inc. alleging suitability, breach of fiduciary duty, lack of due diligence, and lack of supervision related to Bakkan Drilling Fund investments in 2013. Per the customer, he/she lost over $150,000 because of Mr. Armour’s actions. On February 9, 2024, Mr. Armour settled the claim for $37,500, and some or all of this amount may have been paid by Mr. Armour’s employer and/or insurance carrier.
In January 2019, a complaint was filed against or in reference to James Armour by multiple customers of Ausdal Financial Partners, Inc. alleging that investments were unsuitable and misrepresented, and that the firm failed to supervise the sales and conduct adequate due diligence. Per the customers, they lost over $295,000 because of Mr. Armour’s actions. On September 23, 2019, Mr. Armour settled the claim for $1,250,000, and some or all of this amount may have been paid by Mr. Armour’s employer and/or insurance carrier.
In July 2010, a complaint was filed against or in reference to James Armour by a customer of Workman Securities Corporation alleging acts of omissions involved in the sale of interests in a property located in Travis County, Tx. Per the customer, he/she lost over $332,011 because of Mr. Armour’s actions.
In November 1996, Texas State Securities Board initiated a regulatory action against or in reference to James Armour.
How To File A Claim Against James Armour of Ausdal Financial Partners, Inc. (previously with Workman Securities Corporation) To Get Your Money Back
If you have questions about James Armour, Ausdal Financial Partners, Inc., Workman Securities Corporation, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.