Mike Patatian Facing Disputes, FINRA Bar

Soreide Law Group is investigating possible investor claims against securities broker Megurditch Mike Patatian [CRD#: 4047060, Westlake Village, CA]. Patatian worked for (1) Supreme Alliance LLC from 2020-2021; (2) Western International Securities from 2013-2020; and (3) CUSO Financial Services LP from 2004-2013.

Specifically, Financial Industry Regulatory Authority (FINRA) aims to bar Good as a securities broker. Also, Western International Securities investors allege sales practice violations, including that Patatian made unsuitable recommendations and omissions concerning investment transactions. Here is a brief summary of the disclosures about Patatian:

FINRA Aims To Bar Mike Patatian

FINRA barred Patatian in June 2022 for allegedly making unsuitable recommendations to clients concerning non-traded REITs. Supposedly, he did not take into account clients’ liquidity needs or risk tolerance. Also, the regulator states that Patatian made unsuitable recommendations concerning exchanges of variable annuities. Moreover, the securities broker purportedly misstated clients’ investment experience and net worth on investment documents. However, Patatian appealed FINRA’s Decision on July 5, 2022. As this matter is ongoing, the sanctions are not effective.

Western International Securities Client Accuses Patatian Of Omissions

Evidently, on July 30, 2018, a Western International Securities client filed an investment-related complaint about Mike Patatian. Specifically, the client alleged that Patatian made omissions concerning liquidity provisions of real estate securities. Therefore, the client requested compensation from Western International Securities or Patatian. However, the securities broker-dealer denied this complaint.

Patatian Allegedly Makes Unsuitable Recommendations To Western International Securities Client

Also, a client of Western International Securities contested Mike Patatian's sales practices, according to a complaint dated July 17, 2017. Supposedly, Patatian made unsuitable recommendations. Allegedly, the exchange-traded funds transactions involving this securities broker caused the client to sustain damages. Therefore, the client sought compensatory relief from Western International Securities or Patatian in this matter. However, the securities broker-dealer denied this complaint.

Western International Securities Client Accuses Mike Patatian Of Unsuitable Recommendations

Evidently, a Western International Securities client filed an investment-related complaint about Mike Patatian. According to the complaint, the client alleged that Patatian made unsuitable recommendations. Because of this, the client purportedly sustained damages pertaining to investments in real estate securities. Therefore, on September 18, 2017, Western International Securities settled this matter by paying the client $30,000.

Damages Resulting From Western International Securities Broker Patatian?

Have you experienced damages because of investing through securities broker Mike Patatian? If so, get in touch with Soreide Law Group at (888) 760-6552 and discuss your situation with a securities lawyer about a potential recovery of your investment damages. Soreide Law Group, who has successfully recovered money for investors throughout all 50 states, represents clients on a contingency fee basis and advances all costs. Patatian and brokerage firms Patatian associated with deny any and all allegations of sales practice violations.