Haselkorn & Thibaut has initiated an investigation into Megurditch Mike Patatian (CRD# 4047060), a former financial advisor and broker previously registered with multiple firms in California and North Carolina, most recently with Supreme Alliance LLC. If you invested with Mike Patatian or Supreme Alliance LLC and have concerns about your portfolio, this is an important opportunity to learn about your options. You can request a free consultation by calling Haselkorn & Thibaut at 1-888-885-7162
The Background: Who is Megurditch Mike Patatian?
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Megurditch Mike Patatian, also known as Mike Patatian, spent approximately 21 years as a registered broker and investment advisor, operating in various locations including Westlake Village, CA and Charlotte, NC. Over his career, he was associated with a total of five firms:
- Supreme Alliance LLC – Charlotte, NC (2020-2021)
- Western International Securities, Inc. – Westlake Village, CA (2013-2020)
- CUSO Financial Services, L.P. – Granada Hills, CA (2004-2013)
- WM Financial Services, Inc. – Irvine, CA (2002-2004)
- Crowell, Weedon & Co. – Los Angeles, CA (1999-2001)
Over this time, he acquired 28 total disclosures – an unusually high number reflecting both customer disputes and regulatory actions. In September 2023, the Financial Industry Regulatory Authority (FINRA) imposed a permanent bar on Patatian, preventing him from working in any capacity within the securities industry. The bar followed a series of findings related to unsuitable investment recommendations, misrepresentation, and document inaccuracies.
FINRA Bar and Regulatory Findings
In June 2022, a FINRA Hearing Panel determined that Patatian failed in his obligations as a broker, and these findings were affirmed in September 2023. The regulatory body cited the following, leading to both a permanent bar and over $760,000 in financial sanctions (including disgorgement, restitution, monetary penalties, and costs):
- Unsuitable recommendations of non-traded Real Estate Investment Trusts (REITs) and variable annuities; he did not fully understand the risks and often recommended these to clients with liquidity needs.
- Misrepresentation of potential tax implications, including incorrect claims regarding tax-free exchanges (IRC 1035) on annuity surrenders, which resulted in sizable tax liabilities for clients.
- Impersonation of clients to obtain contract and account details from insurance companies without proper authorization.
- Inflating client investment experience and net worth on official forms, possibly to circumvent investment restrictions on illiquid products.
- Inaccurate books and records maintenance by overstating or misstating customers’ financial information.
Complete List of Customer Complaints & Disclosures
| Date | Type | Status | Allegations / Product | Claimed Damages / Settlement |
|---|---|---|---|---|
| 8/15/2025 | Customer Dispute | Pending | Unsuitable REIT (2013) | $5,000 requested |
| 8/13/2025 | Customer Dispute | Pending | Unsuitable REITs (2014–2015) | $5,000 requested |
| 8/12/2025 | Customer Dispute | Pending | Unsuitable non-traded REIT | $5,000 requested |
| 11/15/2024 | Customer Dispute | Settled | Unsuitable, misleading investments (2013–2014) | $98,746.33 settled |
| 3/27/2020 | Employment Separation | Final | Not Specified | — |
| 7/30/2018 | Customer Dispute | Denied | Not Specified | — |
| 7/17/2017 | Customer Dispute | Denied | Not Specified | — |
| 6/23/2017 | Customer Dispute | Settled | Not Specified | — |
Patatian’s record has 28 disclosures in total, with many involving allegations of unsuitable investment advice and products not appropriate for the client’s situation. Several disputes remain pending, signaling continued and unresolved client dissatisfaction.
Red Flags for Investors
- High concentration of illiquid, high-commission products such as non-traded REITs—these often carry extra risk and may not suit clients seeking liquidity.
- Repeated customer complaints about unsuitable recommendations, particularly for similar products and over multiple years and firms.
- Employment separations after allegations, signaling internal compliance concerns at more than one employer.
- Regulatory findings of impersonation and record falsification—rare and concerning in a securities professional’s history.
- Poor transparency around risks and fees, including misleading statements about tax implications for annuity surrenders and exchanges.
Investor Options and How Haselkorn & Thibaut Can Help
If you worked with Megurditch Mike Patatian—especially while he was at Supreme Alliance LLC in North Carolina or Western International Securities, Inc. in California—and believe you were provided with unsuitable investment advice or were encouraged to invest in non-traded REITs or variable annuities without proper risk disclosure, you may have options for recovery.
Haselkorn & Thibaut (investmentfraudlawyers.com) is a national investment fraud law firm with over 50 years of experience, a 98% success rate, and millions of dollars recovered for investors nationwide. Our team is currently reviewing cases and offering complimentary, confidential consultations to those impacted—there is no fee unless we recover money for you.
For more details about Patatian’s regulatory history, see the official FINRA BrokerCheck record.
Take Action Today
If you have worked with Megurditch Mike Patatian or Supreme Alliance LLC and are concerned about investments in non-traded REITs, variable annuities, or other complex products, contact Haselkorn & Thibaut
