Losses with James Parrelly of Investment Planners in Dearborn, MI

Megurditch Mike Patatian, Formerly with Western International Securities, Barred by FINRA


Are you a former client of financial advisor Megurditch Mike Patatian or Mike Patatian, formerly with Western International Securities in Westlake Village, California?  Our firm is continuing to look into allegations against Mike Patatian.  In 2021, FINRA (the Financial Industry Regulatory Authority) filed a complaint against Megurditch Patatian, alleging that he sold unsuitable REITs to 59 customers.  He sold $7.86 million in non-traded REITs to his clients.

FINRA alleged that Mike Patatian violated FINRA rules by making these unsuitable recommendations to invest in REIT (real estate investment trusts) and annuity exchanges.  In June 2022, FINRA barred Patatian from the securities industry regarding these allegations.  In the 52-page order, FINRA found that Patatian never accepted responsibility for his misconduct and even “mocked his customers at the hearing”.

Megurditch Mike Patatian was an advisor with Western International Securities from April 2013 to April 2020.  He also joined Supreme Alliance from May 2020 to March 2021.  He has worked at branch offices in Westlake Village, California.  Patatian has been the subject of nine customer complaints.

Western International Securities must reasonably supervise Patatian’s actions.  If Western International Securities did not do so, it may be responsible for financial damages.

Our law firm has offices in Denver and Seattle, but we continue to represent aggrieved investors throughout the U.S., including in California.  We have also represented clients who lost money with Western International Securities.

View:  Patatian, m BrokerCheck 3.2.21

View:  Patatian, m FINRA Complaint

View:  Patatian, m FINRA Order

If you lost money with Megurditch Patatian, real estate investment trusts (REITs), or Western International Securities, please Contact Us at 720-599-3505 or 206-795-5798 for a free evaluation of your case.