Broker Investigation: Michael Patrick Murphy of Columbus Advisory Group, History of Complaints and Disclosures

Broker Investigation: Michael Patrick MurphyMichael Patrick Murphy (CRD#: 2596905) is currently a registered securities broker. Since 2003, Mr. Murphy has been employed at Columbus Advisory Group in New York, NY. During his time in the securities industry, this broker has been subject to multiple investor complaints.

On April 15th, 2019, Michael Patrick Murphy was named in a FINRA complaint alleging that he improperly failed to disclose $6 million in tax liens filed by the Internal Revenue Service (IRS) and tax warrants filed by New York State Department of Taxation and Finance.

Investor Complaint: Michael Murphy of Columbus Advisory Group

 On December 31st, 2018, an unnamed investor filed a $22.5 million complaint against Michael Patrick Murphy and Columbus Advisory Group. According to BrokerCheck, the complaint, which was filed by the son of a high net worth investor, alleges that the losses were the result of unsuitable investment recommendations.

The underlying complaint is related to a private placement investment that sustained losses. In response, Mr. Murphy provided a comment to FINRA noting that this client has never previously had a grievance and that the investment guidance offered was in line with objectives. As of April of 2019, the complaint is still listed as ‘pending’.

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