Michael “Mike” Conte Investigation
December 2021- Coral Springs, FL
According to publicly available records, Michael “Mike” James Conte a broker previously employed with Fusion Analytics Securities discloses a prior regulatory event, a civil event, 3 previously settled customer disputes and an outstanding judgement.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In October of 2021, in FINRA case #2018059545602, Conte consented to the sanctions and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation into potential misrepresentations made in the participation in and supervision of the sale of multiple private offerings of bonds. Conte was permanently barred from FINRA in all capacities.
In August of 2021, the United States Securities and Exchange Commission filed case #0:21-cv-61721 alleging that the commission brings this action to enjoin further violations of the federal securities laws by, and obtain disgorgement and civil penalties from Fusion Analytics Investment Partners, Fusion Analytics Holdings and Michael Conte, after raising approximately $1.4 million through the offer and sale of promissory notes to 10 retail investors and advisory clients, most of whom were retired and elderly without disclosing the declining financial position of the company. To date, the defendants have failed to replay two of the defendants. This case is currently pending.
In June of 2016, FINRA case #16-01860 alleged breach of fiduciary duty, negligence and breach of the Securities Act of Pennsylvania in connection with a promissory note. A FINRA arbitration panel found Conte and Fusion Analytics jointly and severally libel for damages of $100,000.
In September of 2005, a customer of Citigroup Global Markets, Inc., alleged unsuitability, misrepresentation, omission to state material facts, breach of fiduciary duty, unauthorized trading, violation of NASD and NYSE rules, breach of agreement, negligence, fraud and violation of 1934 Securities Act. This case settled for $28,000 and the entire amount was paid by Conte individually.
In July of 2004, a customer of Morgan Stanley alleged that Conte provided unsuitable advice, fraud and negligence. The case settled for $105,000.
In November of 2016, a judgement in the amount of $565,225 was filed by Sue Miller and Matthew Anderson Miller against Conte in the Supreme Court of the State of New York County of New York in the city of New York. The judgment is still outstanding.
Conte was employed with Fusion Analytics Securities and Fusion Analytics Investment Partners from January 2007 until November of 2021 when he was discharged.
If you have losses in an account handled by Michael “Mike” Conte, call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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