FINRA suspended Michael Jay Strasser (CRD# 1456856), formerly of Mill Valley, California's Financial West Group, and fined him $2500 for failing to disclose a judgment against him on multiple industry and firm forms, as is required by FINRA rules.
According to the findings, Strasser failed to disclose a judgment entered against him related to credit card account fees. This marks the 22nd disclosure on Strasser's BrokerCheck record dating back to a criminal charge for fraudulent use of a credit card from a dorm at the University of Delaware, and a 2006 bankruptcy.
His associations with brokerage firms range from an association with NY-based Lehman Brothers Inc. to his most recent association with Navato, CA-based Paulson Investment Company Inc. in 2014 and Westlake Village's Financial West Group in 2014 and 2015.
FINRA noted that Strasser's disciplinary history includes two disclosures directly relevant to his practice as a broker: a 2003 sanction for failure to comply with an arbitration award/settlement or to respond to a FINRA request for the status of this compliance, and a 2004 suspension for a similar violation pertaining to a different case.
The three pending and 14 "final" reported securities-related disputes involving Strasser include allegations of churning, unsuitability, breach of fiduciary duty, fraud, negligence, and excessive trading. Total damages awarded and/or settlements paid to customers over the years for these various investment-related claims against Strasser exceeds $1.25 million.
If you have invested with former Financial West Group and/or Paulson Investment Company, Inc. representative Michael Jay Strasser or with any broker or financial adviser whose churning, unsuitability, breach of fiduciary duty, fraud, negligence, excessive trading, failure to disclose judgments, sanctions or conflicts of interests have 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.