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

Michael Swingle was a Florida based securities broker. He worked in the securities industry for twenty-seven years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Waddell & Reed (1981-1986, 1995-1996, 2002-2005)
  • Investment Resources Securities (1993-1995)
  • FFP Securities (1996-1997)
  • Ameritas Investment Corp (1998-2001)
  • Mony Securities (2001-2002)
  • Princor Financial Services (2005-2006)
  • New England Securities (2006-2007)
  • J.W. Cole Financial (2007-2016)

The Allegations

Michael Swingle was sanctioned by FINRA in May 2018. The findings in this matter state that, due to an alleged deteriorating financial situation caused mostly by gambling, Michael Swingle allegedly borrowed a total of $118,500 from five customers of J.W. Cole Financial–three of whom were elderly. He allegedly solicited these loans without the firm’s knowledge or approval. This was because the firm prohibited its brokers from borrowing money from customers no matter the circumstances. Michael Swingle allegedly continued to gamble even after he was given the loan by the customers. Due to the allegations against him, Michael Swingle was fined $5,000, terminated from J.W. Cole Financial, and suspended by FINRA for a period of eighteen months.

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 Swingle, 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.