MIKE AZAD Cause Your Losses?

First Allied Client Indicates That Broker Mike Azad Caused Investment Losses

Soreide Law Group has come across information suggesting that one or more investors filed disputes about First Allied Securities broker Masood Hussain “Mike” Azad (CRD#: 4798445, League City, Texas). Namely, BrokerCheck confirms that FINRA investigated Azad after First Allied disaffiliated with him for allegedly selling away. Evidently, Azad failed to cooperate with FINRA's investigation. Because of this, the financial watchdog barred him. Here’s more on the allegations against Azad which suggest that he caused clients harm through his private securities transactions:

Client Sues First Allied Indicating Mike Azad Misrepresented Investments

Apparently, a client of First Allied Securities recently contested Mike Azad’s sales practices by bringing a FINRA Arbitration Claim. Allegedly, Azad misled the client and falsified information to get the client to buy private investments. Not only that, but the client was purportedly persuaded to invest because of Azad’s false statements about his investment in the company. Supposedly, one of the client’s investments involved a company which Azad’s son owned. For this reason, the client demanded more than $1,000,000 in compensation in this ongoing matter.

FINRA Bars Azad For Refusing To Disclose Information About Purported Private Securities Transactions

Notably, FINRA issued Letter of Acceptance, Waiver and Consent #: 2017054623301 barring Mike Azad for violating FINRA Rules 8210 and 2010. Namely, FINRA’s 2017 investigation centered on Azad participating in private securities transactions without First Allied’s permission. It appears that Azad may have solicited investments in an electronic data security company. Not only that, but Azad seemingly engaged in outside business activities. Apparently, this was the reason that First Allied discharged Azad in May 2017.
Evidently, FINRA transmitted a letter to Mike Azad which basically required him to disclose documents and information regarding his potential outside business activity and solicitation of securities issued by that electronic data security company. Apparently, Azad’s attorney told FINRA that he would not oblige. For this reason, FINRA barred him from having any association with FINRA members.

Did Mike Azad Sell You Unsuitable Securities?

Have you experienced losses by investing with First Allied securities broker Mike Azad? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers like Mike Azad and their employing firms.