Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 30, 2016 indicate that former New York-based Woodstock Financial Services broker Michael Lavelanet has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lavelanet (CRD# 2832739).
Michael Lavelanet has spent 18 years in the securities industry and was most recently registered with Woodstock Financial Services in Garden City, New York (1998-2015). Previous registrations include VTR Capital in New York, New York and Monroe Parker Securities in Purchase, New York. Two of Mr. Lavelanet’s former employers, VTR Capital and Monroe Parker Securities, have since been expelled by FINRA. He is currently not registered with any state or firm.
According to his BrokerCheck report, Michael Lavelanet has received three customer complaints and one regulatory sanction.
In January 2016, FINRA sanctioned Michael Lavelanet following allegations he “willfully failed to timely amend his Form U4 to disclose federal tax liens and state tax warrants totaling approximately $382,490” and “made a false attestation on his member firm’s Annual Compliance Questionnaire.” He was issued a 3-month suspension, a 6-month suspension, and a fine of $20,000.
In February 2015, a customer alleged Michael Lavelanet, while employed at Woodstock Financial Group, churned the account, recommended unsuitable investments, executed unauthorized trades, and breached his fiduciary duty. The complaint settled May 2015 for $35,000, to which Mr. Lavelanet individually contributed $35,000.
In 2014, a customer alleged Michael Lavelanet, while employed at Woodstock Financial Group, misrepresented and omitted material facts, breached his fiduciary duty, converted funds, executed excessive trades, committed fraud, acted negligently, and breached contract. The complaint settled in January 2016 for $125,000.
In 2006, a customer alleged Michael Lavelanet, while employed at Raike Financial Group, failed to return a telephone call when he wanted to sell a stock, resulting in a loss. The complaint settled for $4,990, to which Mr. Lavelanet individually contributed $4,900.
If you or someone you know has lost money investing with Michael Lavelanet, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.