Joseph Michaletz, Broker with DAI Securities, Facing Customer Disputes Over GPB Capital Investments

Former customers are seeking millions in damages alleging that Michaletz’s recommendations were unsuitable. 

The Sonn Law Group is investigating allegations that Joseph Michaletz made unsuitable investment recommendations in GPB Capital. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Joseph Michaletz (CRD#: 1327534) is currently a broker and investment adviser with DAI Securities, where he has been employed since 2018. Previously, Michaletz was a broker with Concorde Investment Services from 2015 until 2018, and with Triad Advisors from 2006 until 2015. 

Michaletz has nine disclosures on his BrokerCheck report.

July 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence and breach of contract related to $225,000 in investments made between 2015 – 2018.”

July 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence and breach of contract related to $750,000 in investments made between August 2017 – May 2018.”
• Damage Amount Requested: $1,000,000.00

June 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence, breach of contract and failure to supervise related to a $100,000 investment in GPB Auto in April 2017.”
• Damage Amount Requested: $73,000.00

June 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence and breach of contract related to $100,000 investment made in August of 2016.”
• Damage Amount Requested: $100,000.00

May 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence and breach of contract relating to investments made in July and October of 2017.”

May 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges he purchased unsuitable alternative investments between 2012 and 2015.”

January 2020 Customer Dispute

• Status: Pending
• Allegations: “Claimants allege negligence and unsuitability in investment recommendations made through Triad and 2014 and thereafter at respondent Concorde in 2018.”
• Broker Comment: Claimants seek unspecified compensatory damages. Claimants invested $75,000 in GPB Holdings I through Triad in 2014. Claimant thereafter invested $75,000 in GPB Automotive through respondent Concorde.

January 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence and breach of contract, in connection with various GPB Investments made in 2016 – 2018.”
• Damage Amount Requested: $550,000.00

December 2019 Customer Dispute

• Status: Pending
• Allegations: “Claimants allege that investments in GPB products were unsuitable. In 2015, Claimants invested $250,000 in GPB Holdings I during Representative’s association with respondent Triad. Per the Statement of Claim, Claimants invested $650,000 in other GPB products during Representative’s association with co-respondent, Concorde Investment Services LLC.”
  

Contact Us Today

The Sonn Law Group is currently investigating allegations that Joseph Michaletz made unsuitable recommendations. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.