Investors potentially experienced sales practice violations by securities broker Dimitrios Kosmo Michelis [CRD: 2920152, New York, New York], according to publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. It appears that Michelis worked for UBS Financial Services Inc. from June 24, 2011, to September 10, 2025. Read on to discover more about Michelis’s disclosures.
Particularly, on August 15, 2025, a UBS Financial Services Inc. client filed a complaint about Dimitrios Michelis. Mainly, the client alleged misrepresentations, selling away, and unsuitable recommendations. For this reason, the client allegedly incurred damages connected to real estate investment trusts. Therefore, the client requested $2,016,098 in compensation from UBS Financial Services Inc. or Michelis.
Evidently, a client of UBS Financial Services Inc. contested Dimitrios Michelis’s sales practices, based on a complaint dated August 15, 2025. Allegedly, Michelis made misrepresentations and unsuitable recommendations, and engaged in selling away. It appears that Michelis allegedly caused the client to sustain damages associated with real estate investment trusts. As a result, the client sought compensation from UBS Financial Services Inc. or Michelis in the amount of $3,790,000 in this matter.
Are you concerned regarding investments you made with Dimitrios Michelis? You can contact Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the US. Also, the firm works on a contingency fee arrangement and advances all costs. Michelis and brokerage firms Michelis worked for deny allegations of sales practice violations.
Robert Averwater (CRD 5614514) is a Memphis, Tennessee broker. FINRA fined him $10,000, suspended him from association with any member firm in all capacities for four months, and required him to complete 10 hours of continuing education, according to an AWC issued August 18, 2026.
Qi Yang (CRD 7439718) is a San Francisco, California broker. FINRA suspended him from association with any member firm in all capacities for six months and assessed a deferred fine of $5,000, according to an AWC issued August 10, 2026.
Thomas Jacobs (CRD 4139430) is a Bay City, Michigan broker. FINRA suspended him from association with any member firm in all capacities for two months and assessed a deferred fine of $2,500, according to an AWC issued August 3, 2026.
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