Have you suffered losses investing with Nicholas M. Mitsakos and Matrix Capital Markets? If so, the securities attorneys at The White Law Group may be able to help.
The SEC announced fraud charges yesterday against Nicholas M. Mitsakos and Matrix Capital Markets in San Francisco, CA. The report alleges that Mitsakos pretended to manage millions of dollars in assets and purportedly stole money from the first client who invested with them.
The SEC alleges that Nicholas M. Mitsakos and Matrix Capital Markets solicited investors in a hedge fund while falsely marketing themselves as experienced and highly successful money managers. They purportedly claimed to manage millions in assets but didn’t manage any client assets at all.
According to reports, in September of 2015, Mitsakos and Matrix Capital Markets were allegedly given $2 million in client assets to manage and allegedly stole close to $800,000 to pay for unauthorized personal and business expenses.
The White Law Group is investigating the liability that Mitsakos‘ employers may have for losses sustained by his clients. Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Mitsakos violated FINRA rules and his employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.
For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
Tags: Investor Alert: Nicholas M. Mitsakos and Matrix Capital Markets Last modified: August 12, 2016