Haselkorn & Thibaut has launched an investigation into Michael Graham, a former LPL Financial advisor who operated out of El Paso, Texas. If you or someone you know invested with Michael Graham or have concerns about your investments through LPL Financial, read on to learn the most up-to-date background on the advisor, a summary of red flags, and a step-by-step guide for investors concerned about potential losses.
Overview: Michael Graham (LPL Financial, El Paso, TX) Under Scrutiny
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Investors place a high degree of trust in their financial advisor, expecting recommendations that align with their goals, risk tolerance, and best interests. The recent discharge of Michael Graham by LPL Financial on or around June 6, 2025, has prompted legitimate questions and concerns among his clients and the broader investment community. The primary allegations against Graham center on allegedly failing to disclose and obtain approval for his participation in outside business activities. Specifically, Graham is accused of directing clients into private investments that were not approved by his broker-dealer, LPL Financial.
Summary Table: Key Details on Michael Graham & LPL Financial
| Advisor Name | Broker-Dealer | City/State | Status |
|---|---|---|---|
| Michael Graham | LPL Financial | El Paso, TX | Discharged (June 2025) |
What Prompted the Investigation?
According to allegations, Michael Graham solicited at least one client to invest in a “short term loan” involving a company called Myvatar. The client was reportedly promised a return of $375,000 from a $150,000 investment. As of the date of this report, the funds have not been returned to the client. Additional complaints from other customers have been filed, further raising concerns about Graham’s practices and the risks for individuals who worked with him.
Specific Complaints & Allegations Against Michael Graham
- Private Investment Solicitation (“Myvatar” Loan): A former client invested $150,000 with the expectation of significant returns based on Graham’s representations. The promised amount has not been returned, and it is alleged that Graham failed to disclose both the risks and his relationship with the company.
- Alleged Misrepresentation and Unsuitable Investments:
- On or around June 16, 2025, a customer alleged $300,000 in damages, claiming that Graham misrepresented the investment as having a guaranteed principal and returns, specifically tied to a real estate deal.
- On or around January 15, 2025, a complaint was filed for $276,200 in damages alleging that an investment made in 2023 did not match the investor’s objectives and risk tolerance, and that securities transactions were executed away from LPL Financial.
These cases remain unresolved or are still pending as of the latest updates.
Regulatory and Legal Background Check: What the Records Show
- BrokerCheck: As of the most recent update, Michael Graham’s BrokerCheck profile did not list any formal disclosures of customer complaints, regulatory actions, or arbitrations. Investors should check directly at BrokerCheck for the most current information on any advisor.
- SEC EDGAR and Enforcement Records: No formal administrative or cease-and-desist orders, nor any litigation releases, have directly named Michael Graham. There are no SEC enforcement actions reported against him as of now.
- Federal and State Court Filings: There are currently no federal or state cases in which Michael Graham is listed as a defendant for securities-related misrepresentation or fraud according to accessible dockets.
- Media & Public Industry Alerts: There is no national media coverage, arbitration award, or regulatory action publicly summarized in connection to the investment solicited by Michael Graham at LPL Financial.
Red Flags for Investors
- Outside Business Activities: Allegations of failing to disclose, and receive approval for, outside business activities—especially when soliciting investments not approved by your broker-dealer—should always prompt investor caution.
- High Return Promises: The promise of turning $150,000 into $375,000 in a “short term loan” is unusually high for investment-grade opportunities and should raise immediate skepticism.
- Dual Roles: Michael Graham allegedly acted both as a registered representative and as General Counsel to Myvatar, the company receiving investor funds, creating a possible conflict of interest.
- Multiple Client Complaints: The emergence of several customer complaints alleging damages in the hundreds of thousands suggests a pattern and warrants an independent review by affected investors.
- Investment Sold “Away” from LPL Financial: Regulatory standards require approval and supervision of investment products; transactions away from the broker-dealer (“selling away”) often expose investors to increased risks.
What Should Investors Do Next?
If you or a loved one invested with Michael Graham of LPL Financial—especially in connection with the Myvatar loan, any similar private placements, or real estate-related investments that appear unsuitable—take these steps as soon as possible:
- Document Everything: Gather account statements, communications, investment summaries, and any written or verbal promises you received.
- Check Broker Background: Visit BrokerCheck and review the advisor’s disclosure history. Continue to monitor for updates as investigations progress.
- Consult an Experienced Securities Attorney: An independent third party can review your account for red flags and discuss potential recovery strategies with you in a confidential setting.
Why Call Haselkorn & Thibaut?
Haselkorn & Thibaut is a nationally recognized securities law firm with over 50 years of experience, a 98% success rate, and millions recovered for clients. If you lost money investing with Michael Graham of LPL Financial or believe your advisor may have sold you an unsuitable product or failed to properly disclose material facts, you have the right to a free, confidential consultation. There are no upfront fees—no recovery, no fee.
Call Haselkorn & Thibaut today: 1-888-994-8066
Or visit investmentfraudlawyers.com to schedule your free, no-obligation review.
Protect yourself, protect your family, and take the first step toward potential recovery by speaking with an attorney at Haselkorn & Thibaut as soon as possible.
