Michael Murphy: $22.5 Million Complaint Against Columbus Advisory Group Rep

Michael MurphyPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 14, 2019 indicate that New York-based Columbus Advisory Group broker Michael Murphy has been named in a pending FINRA complaint. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Murphy (CRD# 2596905).

Michael Murphy has spent 23 years in the securities industry and has been registered with Columbus Advisory Group in New York, New York since 2003. Previous registrations include Murjen Financial in Jericho, New York (1999-2003); JWGenesis Financial Services in St. Louis, Missouri (1998-2000); Continental Broker-Dealer Corporation in Carle Place, New York (1997-1998); Investors Associates in Hackensack, New Jersey (1996-1997); First United Equities Corporation in New York, New York (1996-1997); Investors Associates in Hackensack, New Jersey (1995-1996); JW Charles Securities in Boca Raton, Florida (1995); and Oppenheimer & Company in New York, New York (1995). He has passed four securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 28, 1995; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 7 (General Securities Representative Examination), which he obtained on June 14, 1995; and Series 24 (General Securities Principal Examination), which he obtained on August 7, 1998. He is a registered broker with 19 US states and territories.

According to his BrokerCheck report, he has received three customer complaints, two pending customer complaints, and one pending FINRA complaint.

In April 2019 he was named respondent in a FINRA complaint in connection to allegations that he “willfully failed” to disclose federal income tax liens, filed by the Internal Revenue Service, and four tax warrants filed by New York tax authorities, “totaling more than $6 million.” The complaint remains pending.

In April 2019 a customer’s son alleged Michael Murphy, while employed at Columbus Advisory Group, recommended unsuitable investments. The customer is seeking $250,000 in damages in the pending complaint.

In 2018 a customer’s son alleged Michael Murphy, while employed at Columbus Advisory Group, made unsuitable investment recommendations and engaged in other unspecified misconduct. The customer is seeking $22,500,000 in damages in the pending complaint.

In 2011 a customer alleged Michael Murphy, while employed at Olympia Asset Recovery Management, executed excessive trades. The complaint settled for $900,000.

In 2008 a customer alleged he, while employed at Olympia Asset Recovery Management, did not disclose risks involved in trading. The complaint settled for $60,000.

In 2005 a customer alleged he, while employed at Olympia Asset Recovery Management, executed unauthorized trades. The complaint resulted in an award to the customer of $13,750.

If you have lost money investing with Michael Murphy, call Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited by law, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.