California Securities Fraud Attorney Call Today 800-699-1881
California Securities Fraud Lawyer Firm Overview Attorney Profiles Recoveries Obtained Frequently Asked Questions Testimonials Contact Us
information center
Attorney Advertising Disclaimer
Broker Misrepresentation
Brokerage Firms Sued
Structured Products
Hedge Fund Losses
Recognizing Investment Losses
Recovery of Investment Loss
Securities Arbitration
Reverse Convertible
Securities Fraud
Securities Mediation
Securities Litigation
Stock/ Investment Losses
Suitability/ Unsuitability
Unauthorized Trading
Common Claims
Frequently Asked Questions
Attorney Referrals
Video Center
securities fraud blog
legal blog Click here for a free case evaluation. Read our Articles on Securities Related Issues here. have a question resources
contact us
Are you a new client?
10 Avvo avvo badge
If you need help recovering your losses contact us today. View our complete list of brokerage firms and banks we've sued.

Luke Powell Sanctioned for Unauthorized Participation in $350,000 Private Securities Transactions

FINRA fined Luke Andrew Powell for participating in private securities transactions totaling $350,000 without providing proper written notice to his firm, Flying Cloud Securities of San Francisco, California. Powell purportedly marketed an outside business activity, Elan Alternative Group, offering convertible notes, having never provided appropriate notice to or obtained permission from Flying Cloud to participate in the investments.

AWC #2015045185501

Flying Cloud Securities permitted Powell (CRD #2605657) to resign in 2015 and FINRA took up an investigation, recommending in October 2018 under a Wells Notice examination letter that expired upon FINRA's discipline in November, that Powell face disciplinary action for violation of NASD/FINRA rules.

In November, FINRA issued Powell a fine and suspension, ordering additional disgorgement of $17,500, which FINRA says Powell received for his participation in the unapproved investments.

In addition to Elan Alernative Group of Alamo, California, Powell's BrokerCheck indicates additional outside business activities with Sliced Investing, Inc of San Francisco; Cinco Powell Inc of Alamo; Single Path Inc of Lombard, Illinois; Lendstreet Inc of Sunnvale, CA; and ITB Venture Capital LLC of Alamo.

Elan Alternative Group, Cinco Powell, and ITB Venture Capital all share the same business address in Alamo, California. According to Elan Alternative Group's website, the firm was founded to provide services involving alternative products. The website encourages potential investors to search for "Luke Powell" and "Growth Capital Services" on BrokerCheck for more information.

Speaking of Growth Capital, Powell is presently registered as a general securities representative with Growth Capital Services of San Francisco, having joined Growth Capital shortly after resigning from Flying Cloud.

If you have invested with Luke Andrew Powell or any broker in an outside business activity, whose unauthorized participation in the outside investments, such as through convertible notes or other unapproved marketing or solicitation, has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.