Current Investigations

Michael Bastardi Allegedly Engages In Unsuitable Margin Trading

By June 11, 2019 No Comments

Michael Bastardi was a New York based securities broker. He worked in the securities industry for six years. During his career, he was registered with five different securities firms.

His registrations included; Cape Securities (2012), Dalton Strategic Investment Services (2012-2014), Securities America (2014-2016), National Securities Corporation (2016-2018), and Chelsea Financial Services (2018). He is no longer working as a registered securities broker in any fashion.

Michael Bastardi’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course his career.

In January 2015, a customer alleged that he churned their account. This case was settled for $45,000 in damages.

In October 2018, a customer alleged that Michael Bastardi engaged in unsuitable margin trading, unauthorized trading, fraud, and forgery. This case is currently pending. The customer is seeking $270,000 in damages. FINRA eventually opened an investigation into the matter and was eventually barred from acting as a securities broker in any fashion.

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 Bastardi, please contact Oakes & Fosher for a free and private consultation.