FINRA fined Wells Fargo broker Michael Garris $5k and suspended him for trading a dead client's account

Furgison Law Group is taking cases against Wells Fargo for alleged broker misconduct

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Wells Fargo related to alleged misconduct by Michael Garris (CRD# 1540384). The arbitration attorneys at Furgison Law Group are investigating claims involving unauthorized trading, breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct. The claims relate to allegations that Michael Garris executed unauthorized transactions in his client’s account after his death.

Wells Fargo terminated Mr. Garris for his unauthorized trading

FINRA suspended Michael Garris for one year and fined him $5,000 for executing unauthorized trades in dead client’s account. According to his CRD report, Mr. Garris was terminated by Wells Fargo in June 2018, as a result of the unauthorized trading activity. These types of sanctions are serious red flags that evidence a pattern of broker misconduct in order to generate commissions and income for themselves, at the expense of their clients.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Michael Garris at Wells Fargo, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.