Last Updated: March 2024 (Irvine, CA)
Michael Cullwell Investigation Summary
Here’s what you need to know Irvine, CA, stockbroker Michael Cullwell:
- Name: Mr. Michael Gregory Cullwell
- DBA: Irvine Advisors LLC, Schanna Financial & Insurance
- Current Employer: Emerson Equity
- Previous Firms: ARI Financial Services. Xnergy Financial
- Function: Stock Broker/ Financial Advisor
- Aliases: Mike Cullwell
- Primary Location: Irvine, CA
- CRD 5989109
- Can Mike Cullwell be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $130,000
- Pending Customer Dispute Seeks Damages of $444,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Cullwell As Your Stockbroker?
A customer of Emerson Equity filed a FINRA arbitration in 1/2024 alleging that Mike Cullwell recommended an unsuitable investment in a Delaware Statutory Trust. Damages of $444,000 are sought in this currently pending case.
[LEARN MORE]: What is a Delaware Statutory Trust (DST) ?
In 2021 a customer of Emerson Equity was paid $130,000 to settle an arbitration alleging that Cullwell failed to conduct reasonable due diligence when he recommended an unsuitable investment in a limited partnership direct investment.
Allegations of Broker Misconduct Against Michael Cullwell
Customers of Mike Cullwell have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in Delaware Statutory Trust
- Misrepresentation
- Failure to conduct reasonable due diligence
[LEARN MORE]: See this for more information on REITs and Other Alternative Investments
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
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
[LEARN MORE]: See this for information on our other investigations of Emerson Equity stockbrokers.
If you have suffered investment losses in an account handled by Mike Cullwell, 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.
