Soreide Law Group is investigating possible investor claims against securities broker Michael Muratore (also known as Michael Joseph Muratore) (CRD: 4852412, New York, NY). Evidently, Maryland sanctioned the securities broker, who most recently worked for Benchmark Investments Inc. Allegedly, Muratore failed to respond to an Order to Show Cause following FINRA sanctions. Here is a brief summary of allegations against Muratore as reported on BrokerCheck.
Evidently, on May 17, 2022, Maryland issued Case: 202100173, sanctioning Michael Muratore for infractions. Specifically, the state’s regulator revoked Muratore’s registration as a securities broker. Evidently, Maryland alleged that Muratore failed to respond to an Order to show Cause following FINRA sanctions.
Also, on April 14, 2022, Benchmark Investments Inc. disaffiliated with Muratore. Benchmark Investments Inc. alleged that Muratore committed forgery.
Notably, on March 18, 2022, FINRA issued Case: 2019063662701, sanctioning Michael Muratore for infractions. Specifically, Muratore received a two-year suspension and a $25,000 fine. Notably, FINRA claims that Muratore committed forgery.
Mainly, FINRA indicates that from January 2019 through March 2019, during the time that he was associated with J.P. Morgan, Muratore forged the signature of a firm client. Supposedly, Muratore forged a client’s signature on 18 documents concerning the surrender of annuities. In addition, from June 2018 through April 2019, Muratore purportedly failed to inform J.P. Morgan that he was named as a beneficiary on a transfer-on-death (TOD) account of a firm client. Also, FINRA contended that Muratore took steps to hide his beneficiary status from J.P. Morgan. Finally, in July 2020, Muratore purportedly impersonated a firm client in 3 phone conversations Muratore had with an insurance company regarding a client-owed annuity. As a result, Muratore violated FINRA Rules 2010 and 4511.
On February 4, 2021, Financial Resources Group Investment Services LLC disaffiliated with Muratore. Evidently, Financial Resources Group Investment Services LLC alleged that Muratore impersonated a client on a call with an annuity provider.
Also, LPL Financial LLC disaffiliated with Muratore on February 3, 2021. Allegedly, this is because Muratore impersonated a client on a call with an annuity provider.
Evidently, a J.P. Morgan Securities LLC client filed a complaint about Michael Muratore. Namely, the client alleged that Muratore submitted managed account documents containing an unauthentic client signature. Because of this, the client allegedly sustained damages. Therefore, on May 29, 2020, J.P. Morgan Securities LLC settled this matter by paying the client $12,581.57 in damages.
Have you suffered damages through Michael Muratore? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a potential recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors in the United States, is ready to review your situation and explain your legal options. Also, the firm represents clients on a contingency fee basis and advances all costs. Muratore and brokerage firms Muratore worked for deny any and all allegations of sales practice violations.
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