{"id":20746,"date":"2021-10-26T04:00:14","date_gmt":"2021-10-26T09:00:14","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=20746"},"modified":"2022-06-16T11:35:06","modified_gmt":"2022-06-16T16:35:06","slug":"patatian-unsuitable-reits","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/patatian-unsuitable-reits\/","title":{"rendered":"Ex-Western International Securities Broker Megurditch Patatian Allegedly Unsuitably Recommended Non-Traded REITs to Investors"},"content":{"rendered":"

FINRA Claims Former Financial Advisor Also Cost Investors Over Variable Annuities\u00a0<\/span><\/h2>\n

The Financial Industry Regulatory Authority (FINRA) has filed a complaint accusing ex-Western International Securities registered representative Megurditch Mike Patatian of unsuitably recommending to 59 customers that they purchase<\/span> non-traded real estate investment trusts<\/span><\/a> (non-traded REITs). According to the self-regulatory organization (SRO), Patatian lacked reasonable grounds to make 81 recommendations to these customers.\u00a0 Not only that, but for four of the non-traded REIT sales at issue, the ex-financial advisor recommended that they surrender their variable annuities (VAs), which caused them to have to pay surrender fees and incur taxes.\u00a0<\/span><\/p>\n

These purportedly unsuitable recommendations which caused investors to lose money, occurred while Patatian was with Western International Securities in Westlake Village, CA. (After leaving that brokerage firm in 2020, he became a Supreme Alliance broker for less than a year in Charlotte, North Carolina.)\u00a0<\/span><\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

FINRA Claims Former Financial Advisor Also Cost Investors Over Variable Annuities\u00a0 The Financial Industry Regulatory Authority (FINRA) has filed a complaint accusing ex-Western International Securities registered representative Megurditch Mike Patatian of unsuitably recommending to 59 customers that they purchase non-traded real estate investment trusts (non-traded REITs). According to the self-regulatory organization (SRO), Patatian lacked reasonable […]<\/p>\n","protected":false},"author":2,"featured_media":20747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3759],"tags":[4639,3131,3002],"class_list":["post-20746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-reits","tag-megurditch-mike-patatian","tag-reit","tag-western-international-securities"],"yoast_head":"\nMegurditch Mike Patatian & Non-Traded REITs Case<\/title>\n<meta name=\"description\" content=\"This blog discusses how ex-Western International securities broker Megurditch Patatian allegedly unsuitably recommended Non-Traded REITs to investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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