Michael Donnelly and Coastal Equities, Inc.

Have you lost money with financial advisor Michael Donnelly?  We are investigating recent allegations by his former brokerage firm, Coastal Equities Inc.  Michael E. Donnelly was fired by Coastal Equities on September 2, 2014 after the firm alleged that he was misappropriating money from his customers.  Donnelly was also barred from the securities industry by FINRA (the Financial Industry Regulatory Authority) after Donnelly failed to respond to requests for information by FINRA in connection with its investigation of Donnelly’s alleged theft of customer funds.

The SEC also recently barred Michael Donnelly from the securities industry for this conduct.  In December 2015, Donnelly pled guilty to securities fraud charges.

Michael Donnelly was a financial advisor and registered representative of Coastal Equities from October 2009 to September 2014.  He worked at a Wilmington, Delaware branch office.

Broker-dealers like Coastal Equities have a duty to supervise the conduct of their financial advisors.  If a broker-dealer like Coastal Equities fails to adequately supervise their advisors and representatives, the broker-dealer may have liability for customer losses.

HAVE YOU LOST MONEY WITH MICHAEL DONNELLY OR COASTAL EQUITIES?   

              CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION

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