FINRA fined and suspended former Fortune Financial Services (El Dorado Hills, CA) broker Michael Murray Knittel for participating in a $245,000 private securities transaction without prior written notice to Fortune Financial.
Investigators in AWC #2020067053001 described the private investment as a promissory note issued in order to fund the renovation of a residential property and for other costs related to the property.
Michael Knittel aka Michael M Lopez-Knittel (CRD #3274235)'s BrokerCheck file reflects a pending civil complaint FINRA says was related to the aforementioned misconduct, alleging fraud, negligence, breach of contract, and conspiracy. Knittel is listed as the owner of Lagunitas Asset Management, described in Knittel's file as an independent investment advisory firm.
Prior to Fortune Financial, Knittel served as a broker at JW Cole Financial and Financial Advisers of America, both of Folsom, California.
If you invested with Michael Knittel or with any broker or investment adviser who improperly sold you products away from their firm or engaged in private securities transactions without prior authorization or disclosure, and these prohibited transactions resulted in damages or other financial harm to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.