Advisor Alert: Our Attorneys Are Investigating Larry Joseph Michaels For Investment Fraud
Did You Lose Money Because of Larry Michaels?
Filed: March 4, 2024
Larry Michaels has been the subject of two (2) customer complaints and one (1) investigation. 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 Larry Joseph Michaels.
Who Is Larry Joseph Michaels of Crown Capital Securities, L.P. and Legacy Advisory Group, Inc.?
- Advisor Name: Larry Joseph Michaels
- Aliases: Larry Michaels
- CRD: 4351477
- Location: Santa Ana, California
- Current Employer: Crown Capital Securities, L.P. and Legacy Advisory Group, Inc.
- Previous Firms: J P Turner & Company Capital Management, LLC and J.P. Turner & Company, L.L.C.
- Number of Known Customer Complaints: 2
- Number of Known Investigations: 1
- Can Larry Michaels Be Sued: Yes, in Private Arbitration
- Can Larry Michaels’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $325,000
- Highest Settlement: $200,000
If you have suffered investment losses by Larry Michaels, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise 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 Larry Michaels For Broker Misconduct
As of this publication date, Larry Michaels has been the subject of 2 customer disputes and 1 investigation. Let’s review them below.
In February 2024, FINRA made a preliminary determination to recommend that disciplinary action be brought against Larry J. Michaels alleging violation of FINRA Rules 3260(b) and 2010 for exercising discretion without prior written authorization and violation of FINRA Rules 3270 and 2010 for his undisclosed outside business activities.
In December 2020, a complaint was filed against or in reference to Larry Michaels by a customer of Crown Capital Securities, L.P. alleging that they were not aware of redemptions of mutual fund positions thus missed out on market gains. Per the customer, he/she lost over $10,000 because of Mr. Michaels’s actions. On December 16, 2020, Mr. Michaels settled the claim for $24,300, and some or all of this amount may have been paid by Mr. Michaels’s employer and/or insurance carrier.
In September 2013, a FINRA arbitration was filed against or in reference to Larry Michaels by multiple customers of Crown Capital Securities, L.P. alleging that several REIT and partnership investments were not properly sold to them nor were they suitable. Per the customer, he/she lost over $325,000 because of Mr. Michaels’s actions. On April 13, 2016, Mr. Michaels settled the claim for $200,000, and some or all of this amount may have been paid by Mr. Michaels’s employer and/or insurance carrier.
How To File A Claim Against Larry Michaels of Crown Capital Securities, L.P. and Legacy Advisory Group, Inc. (previously with J P Turner & Company Capital Management, LLC and J.P. Turner & Company, L.L.C.) To Get Your Money Back
If you have questions about Larry Michaels, Crown Capital Securities, L.P., Legacy Advisory Group, Inc., J P Turner & Company Capital Management, LLC, J.P. Turner & Company, L.L.C., 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.