FINRA Securities Arbitration Misrepresentation and Fraud Attorney, Russell L. Forkey, Esq.
Michael Lewis Serota (CRD #2169739, Registered Principal, Englewood, Colorado, formerly licensed with Newbridge Securities Corporation and Raymond James & Associates, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Serota consented to the described sanction and to the entry of findings that he converted a total of $195,421.80 from the brokerage account of a customer of his previous member firm. The findings stated that Serota, without authorization, forged the customer’s signature on LOAs to effectuate the conversion of funds from the customer’s account to bank accounts Serota and a third party controlled for Serota’s personal use. (FINRA Case #2011026905901).