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Miguel Murillo Has Received a Regulatory Sanction

Miguel Murillo

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on January 10, 2018 indicate that New York-based broker Miguel Murillo, also known as Michael Murillo, has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Murillo (CRD# 4875997).

Miguel Murillo has spent 12 years in the securities industry. His past registrations include Salomon Whitney Financial in Farmingdale, New York (2010-2014); Cape Securities in McDonough, Georgia (2009-2010); Aura Financial Services in Islandia, New York (2007-2009); Westpark Capital in Melville, New York (2007); National Securities Corporation in Huntington, New York (2005-2007); and Aura Financial Services in Birmingham, Alabama (2005). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 9, 2005, and Series 7 (General Securities Representative Examination), which he obtained on May 16, 2005. He is a registered broker and investment adviser with 17 US states and territories: Arizona, California, Colorado, Connecticut, Florida, Illinois, Iowa, Kansas, Louisiana, Maryland, Minnesota, New Mexico, New York, Ohio, Puerto Rico, Texas and Virginia.

According to his BrokerCheck report, he has received one customer complaint, one pending customer complaint, and one regulatory sanction.

In September 2017 a customer alleged Miguel Murillo, while employed at Salomon Whitney Financial, committed fraud, breached his fiduciary duty, made unsuitable investment recommendations, executed excessive trades, and failed in his supervisory duties. The customer is seeking $800,000 in damages in the pending complaint.

In 2008 a customer alleged Miguel Murillo, while employed at Aura Financial Services, failed to follow instructions, executed unauthorized trades, and misrepresented material facts related to an investment in over-the-counter equities. The complaint settled for $35,000.

In 2010 FINRA sanctioned him following allegations he recommended unsuitably excessive transactions in a customer’s account, and further that the customer did not understand margin or that Mr. Murillo was executing transactions on margin. He was ordered to pay restitution of $35,000 and was issued a 20 day suspension.

If you or someone you know has a complaint regarding Miguel Murillo, also known as Michael Murillo, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.