Michael Babyak, Jr. II—Private Securities Transactions
Michael 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 Jason Kane 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 Wolf Carr & Kane 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 Jason Kane 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 Wolf Carr & Kane 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 Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at firstname.lastname@example.org or email@example.com.