The law firm of Oakes & Fosher is presently investigating the possible misconduct of securities broker Michael Botwinick. According to his publicly available FINRA BrokerCheck report, Michael Botwinick has been the subject of a customer dispute.

Michael Botwinick is a New Jersey based securities broker. He has worked in the securities industry for thirty-seven years. During his career, he has been registered with three different securities firms.

His Registrations

  • IDS Financial Services (1982-1986)
  • American Express Financial Advisors (1982-1998)
  • LPL Financial (1998-Present)

The Allegations

In May 2018, a customer alleged that, from 2008 to 2017, Michael Botwinick made recommendations of a series of pre-paid forward contracts of two concentrated stock positions and made recommendations of various direct investments. Both of these should have been deemed unsuitable by Michael Botwinick due to the fact that they increased the illiquidity and excessive risk of the customer’s portfolio. This case was settled for $540,000 in damages.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Michael Botwinick, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.