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Written by 7:39 pm Blog, Current Investigations

William “Jeff” Michero Barred from the Securities Industry 

William “Jeff” Michero, Cambridge Investments, Barred from the Securities Industry, featured by top securities fraud attorneys, The White Law Group

FINRA Reportedly Bars Jeff Michero after Allegations of Stealing Trust Funds 

 According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor William Jeffrey Michero (Jeff Michero) (CRD # 461764) from the securities industry. 

From April 2018 through February 9, 2021, while associated with Cambridge and serving as the trustee for a senior beneficiary’s accounts at other financial institutions, Michero allegedly converted more than $263,000 from those accounts, in violation of FINRA Rule 2010, according to a Letter of Acceptance Waiver and Consent (the AWC). 

According to the AWC, during April 2018, Michero reportedly began serving as the trustee for four accounts maintained for a senior beneficiary at another FINRA member firm and at two additional financial institutions.  Michero reportedly disclosed this outside business activity to Cambridge by May 2018. From April 2018 until the end of his service as trustee in February 2021, Michero purportedly transferred at least $263,286.40 from the trust accounts to his own account without authorization, allegedly using the funds to pay for his own personal expenses. 

Conversion is an intentional and unauthorized taking of and/or exercise of ownership over property by one who neither owns the property nor is entitled to possess it. Conversion violates FINRA Rule 2010, even when the conversion occurs outside the scope of a registered representative’s employment with a FINRA member, because it calls into question a registered representative’s ability to fulfill his or her fiduciary duties in handling other people’s money, according to FINRA. 

This matter originated from a regulatory tip to FINRA. 

According to his broker report, Jeff Michero was registered with the following broker dealers during his career in the securities industry: 

 02/17/2009 – 08/25/2021, CAMBRIDGE INVESTMENT RESEARCH, INC. (CRD#:39543), FORT WORTH, TX 

08/08/2008 – 02/11/2009, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691), ARLINGTON, TX 

08/29/2007 – 08/11/2008, BANC OF AMERICA INVESTMENT SERVICES, INC. (CRD#:16361), DALLAS, TX 

08/22/2006 – 08/06/2007, 1ST GLOBAL CAPITAL CORP. (CRD#:30349), DALLAS, TX 

02/21/2003 – 07/14/2006, UBS FINANCIAL SERVICES INC. (CRD#:8174), FT. WORTH, TX 

His broker report indicates that Cambridge Investment Research reportedly dismissed Michero on August 12, 2021 after allegations that he “misappropriated trust funds through his outside activity as a trustee.” 
 
Potential Lawsuits to Recover Financial Losses 

The White Law Group is investigating potential securities claims involving William “Jeff” Michero and the liability his employers may have for failure to properly supervise his activities. 

When brokers abuse client accounts or conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. 

If you suffered losses investing with William “Jeff” Michero, the attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against his former employers. For a free consultation, with a securities attorney please call (888) 637-5510. 

The foregoing information, which is all publicly available, is being provided by The White Law Group. 

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois. 

  

  

 

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