Last Updated: February 2025, Danville, CA
Here’s what you need to know about Danville, CA, former stockbroker Michael J. Lickiss:
- Name: Mr. Michael Jerome Lickiss
- Current Status: Not currently registered
- Prior Employers:
- Purshe Kaplan Sterling Investments (07/2024 – 01/2025)
- Arkadios Capital (12/2021 – 07/2024)
- Investment Architects, Inc. (05/2006 – 01/2022)
- Foundation Financial Group
- Function: Stockbroker / Financial Advisor
- DBA: Pacific Wealth Advisory Services
- Primary Location: Danville, CA
- CRD: 5135936
- Can Michael Lickiss be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $1,500,000.00
- Pending Customer Dispute Seeks Damages of: in excess of $3.3 million
If you’ve sustained damages from Mr. Lickiss, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Lickiss As Your Stockbroker?
A customer dispute involving Michael Lickiss was filed on October 24, 2024 (Case #24-02244) in FINRA arbitration. The allegations claim that between 2013 and 2021, fictitious bonds were used to deceive investors. The alleged damages total $2,300,000.00, and the dispute is currently pending.
Additionally, another customer dispute filed on January 6, 2025, alleges a similar fraudulent scheme involving Michael Lickiss’ father and fictitious bonds dating back to May 1999 – January 2021, with an alleged damage claim of $567,000.00.
In a settled case (Case #C24-00163) in the Justice Wakefield Taylor Courthouse, Michael Lickiss was named as a party in a lawsuit pertaining to actions of his predecessor firm, Foundation Financial Group, from 2015-2022. While he claims he had no knowledge or involvement in the alleged actions, a global settlement was reached on April 25, 2024, for $1,500,000.00, of which he contributed $700,000.00.
Allegations of Broker Misconduct Against Michael Lickiss
Customers of Michael Lickiss have alleged the following misconduct in connection with the handling of their accounts:
- Fraudulent Bond Sales: Complaints filed in 2024 and 2025 allege that fictitious bonds were used to defraud investors, resulting in multi-million dollar losses. This could be a violation of FINRA Rule 2020, which prohibits the use of manipulative, deceptive, or fraudulent devices.
- Failure to Supervise: The allegations involve long-term misconduct spanning decades, suggesting that his employing firms may have failed to supervise his activities adequately, potentially violating FINRA Rule 3110, which requires firms to establish and maintain a system for supervision.
The Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to report customer complaints, disputes, and regulatory sanctions. Brokers must also disclose financial matters such as personal bankruptcies, judgments, and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Michael J. Lickiss, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.