Mike Sievert (CRD#: 2127441), a registered representative with Arkadios Capital (CRD#: 282710) in Jacksonville, Florida, is currently involved in two pending customer disputes over GPB private placements. The customers in these disputes are seeking damages totaling $700,000, according to his BrokerCheck record accessed on January 3, 2020. What happened to lead to these disputes?
On November 26, 2019, a customer alleged that Mike Sievert sold GPB Automotive and GPB Holdings. The customer is seeking $500,000 in damages. On July 16, 2019, another customer alleged that recommended investments in GPB Automotive were unsuitable. This customer is seeking $200,000 in damages. GPB, which raised nearly $2 billion via a network of over 60 brokers throughout the U.S., is currently under investigation by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the FBI on suspicion of being a Ponzi scheme.
Over his 28-year career in the securities industry, Mike Sievert has worked for five brokerage firms. In addition to his current position as a broker with Arkadios Capital (CRD#: 282710) in Jacksonville, Florida, Mike Sievert has also worked for the following broker-dealers:
- Triad Advisors LLC (CRD#: 25803)
- Lincoln Financial Advisors Corporation (CRD#: 3978)
- The Lincoln National Life Insurance Company (CRD#: 2580)
- MML Investors Services, Inc. (CRD#: 10409)
If Mike Sievert was your broker and you have concerns about your investments, don’t hesitate to contact a securities attorney to learn about your options for recovery. Call the securities attorneys of Fitapelli Kurta at 877-238-4175 or email firstname.lastname@example.org for your free case consultation.