Michael Clarke Allegedly Converts Almost $600,000 In A Fraudulent Investment Scheme

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

Michael Clarke is a New York based securities broker. He has worked in the securities industry for thirty years. During his career, he has been registered with thirteen different securities firms.

His Registrations

• R.W. Ellwood & Co. (1986-1989)


• Cantor, Fitzgerald Municipal Brokers (1989-1991)


• Cantor Fitzgerald Partners (1991-1993)


• Tullett & Tokyo Securities (1993-1996)


• Chapdelaine & Co. (1997-2001)


• Murphy & Durieu (2002)


• Sentinel Brokers Company (2003)


• Peconic Securities (2003-2004)


• Seaboard Securities (2004-2008)


• Whitaker Securities (2008-2010)


• Tradition Asiel Securities (2010-2015)


• Marv Capital (2015-2016)


• Avatar Capital Group (2016-Present)

The Allegations

Michael Clark was officially sanctioned by FINRA in June 2018. The findings in this matter state that he convinced individuals to invest in an investment scheme surrounding the purchase of tickets for sporting events and concerts. The basis of the alleged scheme was that customers would advance Michael Clarke large sums of money. Michael Clarke was then to use the funds to purchase tickets for popular sporting events and concerts with the intent to sell the tickets for more than he paid for them. Clarke and the investors had a specific agreed upon date by which their money was to be returned to them. Instead of purchasing these event tickets, Michael Clarke allegedly converted almost $600,000 from investors, that included his colleagues, for his own personal use. According to the FINRA findings, Michael Clarke had no intention of repaying the funds as he promised. Michael Clarke then wrote checks and authorized electronic payments that he knew full well, or should have known, would not clear.

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 customers across the nation. If you, or someone you know, have lost money investing with Michael Clarke, 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.