J. Michael Casas — Material Misrepresentations
J. Michael Casas Allegedly Made Material Misrepresentations to Coax Two Individuals to Invest $83,000 of “Seed Capital” to Help Fund an Unconsummated Development and with the Execution of a Planned Reverse Merger Transaction
J. Michael Casas allegedly made material misrepresentations in order to purportedly coax two persons to invest a total of $83,000 as so-called “seed capital”, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Joe Peiffer and James Booker.
Said action was done in order to allegedly help fund the development and execution of a planned reverse merger transaction which was ultimately never consummated, according to the aforementioned Complaint.
Several Peiffer Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in J. Michael Casas’s alleged material misrepresentations.
Investors who believe they may have lost money over J. Michael Casas’s alleged material misrepresentations are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
Casas also allegedly misappropriated more than $48k of the invested funds and converted them to his own personal use, using these funds to pay his own personal expenses, the Complaint states.
Casas has allegedly never repaid the misappropriated funds, the Complaint reports.
The Peiffer Wolf securities lawyers are investigating J. Michael Casas’s alleged material misrepresentations.
J. Michael Casas Barred and Ordered Restitution of $50,000 by FINRA; Casas Allegedly Misrepresented that the intended purpose of the funds was for accounting fees, legal fees, and operational expenses of MCB Capital Partners, LLC
Casas allegedly represented that the intended purpose of the aforementioned funds was for accounting fees, legal fees, and for operational expenses of MCB Capital Partners, LLC, which was formed in October 2010 to provide investment banking advisory services, according to the aforementioned Complaint from FINRA’s Department of Enforcement presently being examined by attorneys Joe Peiffer and James Booker.
Allegedly only two individuals invested in MCB, the Complaint notes, but, as one of the investors hired Casas to work for him and purportedly refused to testify at the hearing, the Hearing Panel was unable to determine if the individual recouped any of his losses when negotiating Casas’s salary before employing him, said Complaint notes.
The other investor allegedly filed for arbitration in 2012 and the dispute is purportedly pending, the Complaint states.
Based on the aforementioned behavior, Casas allegedly violates FINRA Rules and therefore has been borrowed and ordered restitution of $50,000, the Complaint reports.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating J. Michael Casas’s alleged material misrepresentations. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of J. Michael Casas’s alleged material misrepresentations may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434 or via e-mail at firstname.lastname@example.org or email@example.com.