Last Updated: October 2023 (Austin, TX)
Michael DeLaFuente Investigation Summary
Here’s what you need to know about Austin, TX, stockbroker Michael DeLaFuente:
- Name: Mr Michael DeLaFuente
- Current Employer: Not currently registered with FINRA, Mutual Advisors (RIA)
- Previous Firms: USCA Securities LLC, Wells Fargo Advisors
- Function: Stock Broker/ Financial Advisor/Registered Investment Advisor
- Aliases: None
- Primary Location: Austin, TX
- CRD 5739648
- Can Michael DeLaFuente be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $2,200,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael DeLaFuente As Your Stockbroker?
In 5/2023 a customer of USCA Securities filed a FINRA arbitration alleging that Michael DeLaFuente failed to properly structure their accounts to meet their retirement goals and that they participated in outside investment opportunities, including private placements, along with DeLaFuente in which he did not disclose conflicts. The customers are seeking $2.2 million in damages in this currently pending matter.
Allegations of Broker Misconduct Against Michael DeLaFuente
Customers of Michael DeLaFuente have alleged the following wrongdoing in connection with the handling of customer accounts:
- Failure to disclose conflicts of interest
- Failed to properly structure their accounts to meet retirement goals
- Gross negligence
- Breach of fiduciary duty
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 DeLaFuente, contact us for a complimentary consultation with an experience 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.
