Securities Arbitration Lawyers BlogJames Michael Johnson Made Big Promises, No Return
Broker James Michael Johnson faces a two-year suspension and $50,000 fine for negligent misrepresentations and omissions.
In November 2015, James Michael Johnson agreed to FINRA sanctions and the entry of findings that he made negligent misrepresentations and omissions regarding securities investments to customers of his member firm without the firm’s knowledge.
Johnson allegedly approached firm customers, a married couple, offering them a 10-percent interest in a land development company in West Virginia. The company, West Virginia Farm Properties, LLC (WVFP) was formed to develop rural land into a residential neighborhood. In his discussion with the couple, he led them to believe: