FINRA recently announced that Michael Lewis Axel, formerly of Tripp & Co., Inc. in New York City , has been barred from association with any FINRA member firm in any capacity. Without admitting or denying the findings, Axel consented to the described sanction and to findings that he misappropriated at least $624,000 from customers of his member firm. The findings further stated that, without the customer’s knowledge, authorization or consent, Axel initiated the issuance of checks from the customers’ accounts, obtaining the checks so that he could deliver them to the customers, and then forged the customers’ signatures and cashed the checks or deposited the checks into his personal bank account. Finally, the findings also stated that Axel effected unauthorized transactions in customers’ accounts without their knowledge, authorization, and consent.
Prior to working as a financial advisor for Tripp & Co., Inc., Michael Axel was a registered representative with Apple Financial Corporation (from 1985-1989) and Brodis Securities Incorporated (1983-1985).
If you have questions about investments you made with Michael Axel, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. David A. Carter is a securities lawyer based in Boca Raton, Florida. He reviews securities fraud cases throughout the country and Northeast, including reviewing securities fraud cases in New York, New Jersey, Pennsylvania, Vermont, Maine, Massachusetts, New Hampshire, Rhode Island, and Connecticut. For more information on the firm’s securities fraud practice, please visit http://www.carterpa.com. To contact the Law Offices of David A. Carter, P.A., please call 561-750-6999 or email us at contact@carterpa.com.