Michael Magruder Involved In Raymond James Investor Arbitration Claim Regarding Unpaid Loan

Investors apparently complained about securities broker Michael Edwin Magruder [CRD: 4579211, Orlando, Florida], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Magruder worked for Merrill Lynch from August 21, 2015, to July 2, 2021, and Raymond James from July 1, 2021, to August 2, 2024. Keep reading to learn more about Magruder’s disclosures.

Raymond James Investor Accused Magruder Of Failure To Repay Investor Loan

Evidently, a client of Raymond James filed a complaint concerning Michael Magruder. The client claimed that Magruder received a personal loan from the client but did not return the money. On June 3, 2026, Raymond James resolved the dispute by paying the client $681,000.

Michael Magruder Disclosed Raymond James Client’s Allegations Of Nonpayment Of Loan

Also, a client of Raymond James contested Magruder’s conduct by filing FINRA Arbitration No. 25-01776. The client claimed that Magruder took possession of $250,000 as a loan and then left with the funds instead of returning them. Raymond James opted to settle the matter on November 24, 2025, by compensating the client in the amount of $290,725.

FINRA Sanctioned Magruder For Noncompliance In Investigation About Customer Loans

Particularly, on June 27, 2025, FINRA issued Case No. 2022075862201sanctioning Michael Magruder for infractions. Specifically, Magruder was permanently barred from associating with a FINRA member in any capacity. FINRA alleged that Magruder did not fully cooperate with an inquiry involving possible loans from clients.

FINRA was examining whether Magruder had received money from clients without informing his brokerage firms or obtaining the firms’ authorization. As part of that inquiry, the regulator sought financial records and other materials that could help it evaluate the transactions.

According to FINRA, Magruder initially furnished only a portion of the requested material. FINRA stated that the remaining records and information were not subsequently provided.

Magruder resolved the proceeding through an Acceptance, Waiver and Consent. He agreed to the permanent bar and the entry of FINRA’s findings without admitting or denying them. The bar became effective on June 27, 2025.

Did You Invest Through Securities Broker / Financial Advisor Michael Magruder?

Do you need guidance on any investment losses relating to Michael Magruder? You should contact Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney concerning a possible recovery of your investment losses. Soreide Law Group has recovered losses for many investors throughout the United States. Also, our securities lawyers work on a contingency fee basis and advance all costs. Magruder and brokerage firms Magruder worked for deny allegations of sales practice violations.