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UPDATE: MICHAEL SHILLIN of Alliance Global Accused of Securities FRAUD
ALTOONA, WISCONSIN
Have you lost money with financial advisor Michael Shillin? We are continuing to look into allegations made about Michael F. Shillin from Altoona, Wisconsin. Shillin is now the subject of a civil complaint by the SEC, alleging that he committed securities fraud.
Earlier this year, Shillin as the subject of a complaint by the Wisconsin Department of Financial Institutions. Shillin made representations that he invested clients’ money in SpaceX, Megahoot, and Palantir when such investments were not made. In 2020, FINRA (the Financial Industry Regulatory Authority) barred Michael Shillin from the securities industry.
Michael Shillin was a financial advisor and registered representative of Alliance Global Partners from May 2018 to October 2020. He was also affiliated with Raymond James from August 2014 to May 2018. He worked in branch offices in Altoona and Chippewa Falls, Wisconsin. He was also terminated by Alliance Global Partners and Raymond James.
Brokerage firms like Alliance Global Partners have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Phoenix, Arizona; Seattle, Washington; Denver, Colorado; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout Wisconsin. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Raymond James.
Click here to view Michael Shillin BrokerCheck Report