Have you suffered losses as a result of your dealings with David F. Mickelson? If so the White Law Group may be able to help you recovery your investment losses.
According to the Financial Industry Regulatory Authority (FINRA), Mickelson is under investigation for deliberately concealing his outside business activity as a fund manager from the brokerage firm where he was a registered employee. Between 2007 and 2009, Mickelson allegedly created, promoted, and managed a Regulation D private placement fund called Micro Pipe Fund I, LLC., which allegedly raised more than $8 million from approximately 70 investors. In addition, Michelson purportedly acted as manager for Hannahlu Ventures and received compensation for completing securities transactions involving Nutmeg Fund, Nutmeg Fortuna Fund, Nutmeg Patriot Fund, and Lone Wolf, Inc. The FINRA complaint also alleges that Mickelson misrepresented to investors the value of holdings in the Micro Piper Fund and promoted the Micro Piper Fund using misleading and unapproved websites and advertisements.
According to his FINRA Broker Report, Mickelson was registered with NFP Securities in Oceanside, California from March 2004 through May 2011. Brokerage firms have a supervisory responsibility to monitor all of the business activity of their employees.When a registered broker, such as Mickelson, conducts securities transaction outside of the firm he is registered with the activity is considered “selling away”. If a registered broker “sells away” from his firm, the brokerage firm may still be liable for negligent supervision and may be responsible for investment losses in a FINRA dispute resolution claim.
If you have suffered significant losses on investments made through David F. Mickelson and would like to discuss your litigation options, please call the securities attorney of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
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