{"id":6414,"date":"2018-08-21T16:52:31","date_gmt":"2018-08-21T20:52:31","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=6414"},"modified":"2018-08-21T16:53:20","modified_gmt":"2018-08-21T20:53:20","slug":"broker-michael-b-barnett-allegedly-invests-client-funds-in-speculative-securities","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/broker-michael-b-barnett-allegedly-invests-client-funds-in-speculative-securities\/","title":{"rendered":"Broker Michael B. Barnett Allegedly Invests Client Funds in Speculative Securities"},"content":{"rendered":"<p>Michael Barnett (CRD #5792242) is a currently registered broker and investment advisor working with J.J.B. Hilliard, W.L. Lyons, LLC of Marion, IL (CRD #453). He has been with Hilliard Lyons since 2012. Previously, Barnett was registered with Edward Jones (CRD #250) of Herrin, IL. He has been in the industry since 2010.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-4790\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-300x200.jpg\" alt=\"Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-300x200\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-300x200.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-768x512.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-1024x682.jpg 1024w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-1000x666.jpg 1000w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-180x120.jpg 180w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud.jpg 1067w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Barnett has three pending customer complaints in 2018, with the damages requested totaling $133,529.56. Two of these claims involve allegations of over-concentration and losses related to a company called Breitburn Energy (BBEP), and that the company was unsuitable for the clients. Both complaints include allegations of breach of contract and fiduciary duty, violation of Kentucky Consumer Protection Act, Kentucky Blue Sky Law, and the Illinois Consumer Fraud Act. The third 2018 complaint, also pending, allege <em>\u201cbreach of fiduciary duty, violation of Illinois&#8217; Securities Act (Section 815 ILCS 5\/12 et al.), negligence\/negligent misrepresentation\/omission, breach of contract, restitution, common law fraud, and negligent supervision.\u201d <\/em><\/p>\n<p>In 2017, Barnett had two additional customer complaints. In one case, the client alleges <em>\u201cunauthorized trading in an unsuitable security.\u201d <\/em>\u00a0The second complaint alleges <em>\u201cmisrepresentation, unsuitable investments, and unauthorized trading in a single security beginning in 2014 through 2015.\u201d<\/em> The client has requested damages of $1.5 million.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/broker-michael-b-barnett-allegedly-invests-client-funds-in-speculative-securities\/\"  title=\"Continue Reading Broker Michael B. Barnett Allegedly Invests Client Funds in Speculative Securities\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Michael Barnett (CRD #5792242) is a currently registered broker and investment advisor working with J.J.B. Hilliard, W.L. Lyons, LLC of Marion, IL (CRD #453). He has been with Hilliard Lyons since 2012. Previously, Barnett was registered with Edward Jones (CRD #250) of Herrin, IL. He has been in the industry since 2010. Barnett has three [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[725,607,588,590,796,601,599,580,581],"tags":[758,1076,1077,290],"class_list":["post-6414","post","type-post","status-publish","format-standard","hentry","category-breach-of-fiduciary-duty","category-failure-to-supervise","category-finra-arbitration","category-misrepresentation-and-omission-of-material-facts","category-negligence","category-oil-gas-fraud","category-securities-arbitration","category-stockbroker-misconduct","category-unauthorized-trading","tag-hilliard-lyons","tag-michael-barnett","tag-scott-silver-hilliard-lyons","tag-securities-arbitration"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Broker Michael B. Barnett Allegedly Invests Client Funds in Speculative Securities &#8212; Securities Arbitration Lawyers Blog &#8212; August 21, 2018<\/title>\n<meta name=\"description\" content=\"Michael Barnett (CRD #5792242) is a currently registered broker and investment advisor working with J.J.B. Hilliard, W.L. Lyons, LLC of Marion, IL (CRD &#8212; August 21, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/broker-michael-b-barnett-allegedly-invests-client-funds-in-speculative-securities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Broker Michael B. 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Lyons, LLC of Marion, IL (CRD &#8212; August 21, 2018","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/broker-michael-b-barnett-allegedly-invests-client-funds-in-speculative-securities\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/broker-michael-b-barnett-allegedly-invests-client-funds-in-speculative-securities\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Broker Michael B. 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