Last Updated: November 2023 (Richmond, VA)
Michael Corrada Investigation Summary
Here’s what you need to know about Richmond, VA, stockbroker Michael Corrada:
- Name: Mr. Michael W. Corrada
- Current Employer: Not currently registered with FINRA
- Previous Firms: Center Street Securities, Coastal Equities, Centaurus Financial
- Function: Stock Broker/ Financial Advisor
- Aliases: Michael Corrada
- Primary Location: Richmond, VA
- CRD 709158
- Can Michael Corrada be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $255,000
- Pending Customer Dispute Seeks Damages of $200,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Corrada As Your Stockbroker?
Michael Corrada discloses 3 settlements with customers including:
- In 7/2023 a customer of Coastal Equities was paid $255,000 to resolve allegations that Michael Corrada recommended an unsuitable corporate bond.
A customer of Center Street Securities filed a FINRA arbitrtation in 9/2023 alleging that Michael Corrada recommended an unsuitable alternative investment causind damages of $200,000. This matter is currently pending.
In 9/2023 a customer of Coastal Equities filed a FINRA arbitration alleging that Michael Corrada failed to do adequate due diligence and recommended unsuitable alternative investments. Damages are not specified in this currently pending matter.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
Allegations of Broker Misconduct Against Michael Corrada
Customers of Michael Corrada and the firms he worked for have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in alternative investments
- Failure to perform adequate due diligence
- Failure to supervise
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain 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 Corrada, 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.