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Michael Mohaghegh Allegedly Engaged in Unauthorized Trading

May 20, 2022 Unauthorized Trading

Michael Mohaghegh (CRD #: 2316381), a broker registered with Wells Fargo Clearing Services, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on May 15, 2022. If you want to know more about Michael Mohaghegh’s conduct as a broker, read on.

Allegations of Unauthorized Trading

In a dispute filed on March 8, 2022, an investor alleged that Michael Mohaghegh sold shares without their authorization, resulting in losses. This dispute was denied by the firm.

That said, investors should know that firms can deny disputes without any external review. Investors can still seek out FINRA arbitration after a denial and potentially recoup their losses.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which restricts brokers from exercising their trading discretion outside of pre-approved discretionary accounts.

Background Information

Michael Mohaghegh has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

Michael Mohaghegh is a registered broker in seven states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • Wells Fargo Investments (CRD#:10582)
  • Banc of America Investment Services (CRD#:16361)
  • Citicorp Investment Services (CRD#:23988)
  • McDonald Investments (CRD#:566)
  • Key Investments (CRD#:15873)

Kurta Law Can Help

If you worked with Michael Mohaghegh and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.