Stoltmann Law Offices is investigating Michael Anthony Duch, a former registered representative with Cambrdige Investment Research. Duch entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), and was accused of participating in private securities transactions. Duch allegedly contacted a married couple, customers of Cambridge regarding an investment opportunity in Running Springs Oil and Gas. The couple was told that their investment was part of Cambridge Investment Services’ investments, when, in fact, it was not. This is commonly referred to as selling away and is when a registered representative offers and sells investments that are not sold or offered by his member firm to garner large commissions and fees for the broker himself. Selling away is against securities rules and regulations.
According to his FINRA BrokerCheck report, Duch was registered with FFP Securities in Chesterfield, Missouri from September 1992 untili January 2001, Legacy Builders Securities in Fargo, North Dakota from June 2001 until August 2004, Cap Pro Brokerage Services in Columbus, Ohio from January 2001 until September 2005 and Cambridge Investment Research in Aberdeen, South Dakota from September 2005 until August 2010. He is currently registered with Kovack Securities in Aberdeen, South Dakota and has been since July 2010. He has two customer disputes against him.
If you invested money with Duch, his former firm, Cambridge Investment Research, can be held liable for your financial losses. They had a duty to reasonably supervise him while he was employed there, so as not to allow him to sell away. Please call 312-332-4200 for a free consultation with an attorney. There is no obligation and we take cases on a contingency fee basis only.
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