Michael Frew Barred From Securities Industry After Allegedly Orchestrating Real Estate Rehabilitation Scheme
Michael Frew, formerly associated with Wells Fargo Advisors, is barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) after it conducted an investigation regarding allegations that he had accepted loans from customers or converted customer funds.
The Peiffer Rosca securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.
Frew is accused of soliciting millions of dollars from his clients and his friends and family by representing that the money would be used by real estate developers to rehabilitate properties affected by natural disasters. Frew is alleged to have promised investors interest payments ranging from 10 to 14 percent per year. Recently, investors allegedly stopped receiving payments and were unable to reach Frew.
Frew failed to comply with an investigation conducted by FINRA regarding the allegations that Frew had accepted loans from customers or converted customer funds, according to FINRA. Frew agreed to be barred from the securities industry without denying or admitting FINRA’s findings.
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.
Broker: Michael Frew
Status: INVESTIGATED by Peiffer Rosca.
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