Close Menu
Free Consultation: 888-976-6111

Michael Corrada: 500K Bond Complaint Against Richmond Advisor

A recent investor complaint against former Center Street Securities financial advisor Michael Corrada (CRD# 709158) alleges that his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is not currently registered as a broker or an investment advisor, and that he was most recently based in Richmond, Virginia. 

Mr. Corrada’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in April 2022, alleges that as a representative of Coastal Equities, he recommended an unsuitable corporate bond investment. The pending complaint alleges damages of $500,000.

A second investor complaint, filed in 2011, alleged that Mr. Corrada recommended unsuitable investments in RMK closed-end funds while a representative of SunTrust Investment Services. In 2012 the complaint reached a settlement of $67,500.

A third investor complaint, filed in 2010, alleged that Mr. Corrada made misrepresentations of material information and recommended unsuitable closed-end funds while at SunTrust Investment Services. In 2011 the complaint reached a settlement of $14,500.

A fourth investor complaint, filed in 2010, alleged that he failed to inform the customers that their closed-end fund was “junk bonds and uninsured.” The complaint reached a settlement of $10,000.

According to the Financial Industry Regulatory Authority, Michael Corrada holds 39 years of securities industry experience. Most recently based in Richmond, Virginia, he is not currently registered as a broker or as an investment advisor. His past registrations include Center Street Securities (Richmond, Virginia; 2019-2020), Coastal Equities (Wilmington, Delaware; 2015-2019), Centaurus Financial (Richmond, Virginia; 2010-2014), SunTrust Investment Services (Nassawadox, Virginia; 2001-2010), BB&T Investment Services (Charlotte, North Carolina; 1998-2001), Crestar Securities Corporation (Richmond, Virginia; 1993-1998), Signet Investment Corporation (Charlotte, North Carolina; 1986-1992), E.F. Hutton & Company (1983-1986), Merrill Lynch (1981-1983), and Anderson & Strudwick (1980-1981). He has passed six securities industry qualifying examinations: the General Securities Principal Examination, or Series 24; the Municipal Securities Principal Examination, or Series 53; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He currently holds no state licenses as a broker. (Information current as of July 20, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • CoinFund Liquid Opportunities LP Losses: Investors May Have Options

    In July 2023, US-based cryptocurrency investment firm and registered investment adviser CoinFund announced that it had closed its $158 million...

    Read More
  • Elba Nogueras: FINRA Suspends Ex-First Southern Advisor

    Former Guaynabo, Puerto Rico financial advisor Elba Nogueras (CRD# 4459340) has been involved involved in multiple investor complaints involving Puerto...

    Read More
  • Daniel Snover: PMV Advisor Faces $383K Complaint

    Addison, Texas financial advisor Daniel Snover (CRD# 5161189) recently received an investor complaint alleging his conduct resulted in losses exceeding...

    Read More
  • Jennifer Basey: $75K Complaint Against Stifel Nicolaus Advisor

    A recent investor complaint against Fort Myers financial advisor Jennifer Basey (CRD# 4730054) alleges that her advice resulted in losses....

    Read More
  • Previous
  • Next