Michael Babyak, Jr. II—Private Securities Transactions

Cleveland stockbroker fraud lawyerMichael Babyak, Jr. II Allegedly Participated in Private Securities Transactions with Four LPL Customers without Prior Approval from LPL; One Transaction Allegedly Involved a $4.25 Million Debt Restructuring Loan

Michael Babyak, Jr. II allegedly took part in private securities transactions involving four LPL customers, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Michael Babyak, Jr. II, formed an LLC and allegedly had the four aforementioned customers invest a total of$4,250,000 into said LLC before purportedly having the LLC loan the $4.25 million to a third party for the alleged benefit of his customers, the AWC notes.

The Peiffer Rosca Wolf securities lawyers are investigating Michael Babyak, Jr. II’s alleged private securities transactions.

One of Michael Babyak, Jr. II’s Customers Allegedly Received a Total of $1,045,862.40 and Another Received $984,804.22; Michael Babyak, Jr. II Barred by FINRA

Two of Michael Babyak, Jr. II’s aforementioned customers allegedly received $1,045,862.40, and a total of $984,804.22, respectively, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) presently under review by attorneys Alan Rosca and James Booker.

Babyak again allegedly did not give notice LPL that he was participating in these additional transactions, and hence, violated NASD and FINRA Rules, and therefore has been barred by FINRA, the AWC reports.

One should also note that, according to the AWC, Michael Babyak, Jr. II neither admitted nor denied the FINRA findings

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged private securities transactions and are currently investigating Michael Babyak, Jr. II’s alleged participation in 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 Michael Babyak, Jr. II’s alleged participation in private securities transactions may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.