RedFlag, Allegation and/or Complaint against MICHAEL ARTHUR MARCHETTI
Disclosure #1 for MICHAEL MARCHETTI
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- Event Date: 9/21/2017
- Disclosure Type: Civil
- Disclosure Resolution: Pending
- Disclosure Detail :: Initiated By: Sandra Kay Whaley
- Allegations: Plaintiff alleges that she met with Mike Marchetti after her husband’s death in July of 2011, and asked his opinion as to whether she was personally liable on a loan her husband had guaranteed but which she had not guaranteed. At least one of the accounts held at Synovus Securities was pledged as collateral for the guaranty. Plaintiff contends that Mike Marchetti told her that if she did not sign a promissory note in favor of Synovus Bank which would pay her husband’s guaranty obligation that she would lose everything. Approximately 15 months later, Plaintiff contends the conversation she had with Mike Marchetti in July, 2011, constitutes coercion by Marchetti which forced her into signing a promissory note in favor of Synovus Bank, the proceeds of which satisfied her deceased husband’s guaranty obligation. Plaintiff seeks unspecified damages.
- Sanction Details ::
- Broker Comment: Mike Marchetti denies that he was asked by Plantiff to offer an opinion as to her liability on her husband’s guaranty and never told her she would lose everything if she did not pay it. Mike Marchetti states and Plantiff agrees that he had only one conversation with Plantiff about anything other than her investments and that was soon after husband’s death when he expressed his condolences. Mike Marchetti is not a lender, has no lending authority, and had nothing to do with Plantiff borrowing any money from Synovus Bank.
Should I file a FINRA complaint against brokers like MICHAEL ARTHUR MARCHETTI?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
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Originally reported on November 17, 2022 @ 9:07 pm
