Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 14, 2016 indicate that former New York-based Adirondack Trading Group broker Michael Inderlied has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Inderlied (CRD# 2131074).
Michael Inderlied has spent 24 years in the securities industry and was most recently registered with Adirondack Trading Group in New Woodstock, New York (2015). Previous registrations include Investors Capital in Frisco, Texas; Wilbanks Securities in Oklahoma City, Oklahoma; Sagepoint Financial in Oklahoma City, Oklahoma; MML Investors Services in Springfield, Massachusetts; Mimlic Sales Corporation in St. Paul, Minnesota; GR Phelps & Company; Carillon Investments in Cincinnati, Ohio; Pruco Securities in Newark, New Jersey; and the Prudential Insurance Company of America in Newark, New Jersey. He is currently not registered with any state or firm.
According to his BrokerCheck report, Michael Inderlied has received two customer complaints and two regulatory sanctions.
In September 2016 FINRA sanctioned Michael Inderlied following allegations he “failed to appear for FINRA on-the-record testimony pertaining to allegations of unsuitable recommendations.” He was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.
In November 2015 the State of Missouri sanctioned Michael Inderlied following allegations he “engaged in dishonest and unethical practices.” He was censured, issued fines and restitution exceeding $30,000, and prohibited from acting “as a trustee of a trust, attorney-in-fact under power of attorney, estate administrator, guardian, conservator, or in any similar fiduciary capacity for a client or a client’s family unless such client is an immediate family member.”
In 2012 a customer alleged Michael Inderlied, while employed at Wilbanks Securities, breached his fiduciary duty, breached contract, violated the Missouri Uniform Securities Act, committed fraud, and acted negligently. The complaint settled in 2014 for $35,000.
In 1999 a customer alleged Michael Inderlied, while employed at MML Investors Services, misrepresented material facts. The complaint settled for more than $18,600.
If you or someone you know has a complaint regarding Michael Inderlied, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.