Michael Anthony Duch—Private Securities Transactions
Michael Anthony Duch Allegedly Engaged in Private Securities Transactions Without Proper Prior Notice from Cambridge Investment Research, Inc.
Michael Anthony Duch allegedly engaged in private securities transactions, not for compensation, without providing prior written notice to, or receiving prior written approval from Cambridge Investment Research, Inc., according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
Duch also introduced at least three Cambridge customers and two non-Cambridge customers to a distributor for two unregistered oil and gas offerings, and he provided the non-Cambridge customers with private placement memorandums and other offering materials, the AWC notes.
Michael Anthony Duch Suspended and Fined $15,000 by FINRA
In May of 2010, Duch allegedly contacted two Cambridge customers, known only as PM and DM (a married couple), via e-mail regarding an investment opportunity in Running Springs Oil and Gas, L.P. (”Running Springs”), a limited partnership formed in 2009 for the purpose of generating oil and gas investments in the Bakken Region of North Dakota. PM and DM invested in Running Springs, according to the AWC.
What is more, in May of 2010, Duch reportedly contacted Cambridge customer, known only as DD, and non-Cambridge customers EC and MS, via e-mail regarding investment opportunities in Obele Energy, a limited partnership formed in 2009 for the purpose of generating oil and gas investments in the Bakken region of North Dakota, the AWC reports.
The aforementioned entities are not registered with the SEC, the AWC notes. As a result of allegedly participating in private securities transactions as described above, and without seeking Cambridge’s permission or obtaining the requisite prior approval, Duch purportedly violated NASD and FINRA Rules. Hence, he has been fined $15,000 and suspended twenty business days by FINRA, the AWC notes.
The Peiffer Wolf Investor Rights Lawyers Help Investors
The Peiffer Wolf investor rights lawyers often represent investors who lose money as a result of alleged undisclosed private securities transactions. 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 undisclosed private securities transactions may contact the investor rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.