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

Michael D. Lucas is an Arizona based securities broker. He has worked in the securities industry for eight years. During his career, he has been registered with two different securities firms.

His Registrations

  • NYLIFE Securities (2009-2013)
  • MML Investors Services (2014-2019)
  • Mutual of Omaha Investor Services (2019-Present)

The Allegations 

  • In September 2013, Michael D. Lucas was discharged from his position at NYLIFE Securities. This followed allegations that he violated the company’s policy by recommending an unsuitable placement of a traditional life insurance product.
  • In October 2018, a customer alleged that Michael D. Lucas intentionally misled him to sign documents for an annuity that was funded with proceeds from a 401(k). The customer alleged that Michael D. Lucas was well aware that he (the customer) desired to have his funds deposited into a liquid money market account. This case was settled for $748,303 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 D. Lucas, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.