FINRA suspends Michael Murphy Hurtgen (CRD #1742647, Englewood, Colorado)
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Did you or a family member invest in InPoint Commercial Real Estate Income, Inc. (“InPoint”) based on the recommendation of your stockbroker or financial advisor?
InPoint Commercial Real Estate Income, Inc. (“InPoint”) is a nontraded REIT that was formed in 2016 by Inland Real Estate Investment Corporation. InPoint focuses on investing in commercial real estate (CRE) securities and debt. By 2019, InPoint had raised...read more
March 12, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Hurtgen was fined $5,000 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Hurtgen consented to the sanctions and to the entry of findings that he solicited at least 14 individuals, 10 of whom were customers of his member firm, to invest in a private placement offering without providing prior written notice to the firm. The findings stated that three of the 14 individuals that Hurtgen solicited invested in that private offering and that Hurtgen participated in each of the transactions, which totaled $75,000. While the firm had approved Hurtgen’s outside business activity with the company, it had not approved his subsequent private placement activities on behalf of it. The findings also stated that Hurtgen distributed sales materials to investors for the private offering that failed to comply with FINRA’s content standards for communications with the public. The sales materials failed to provide a balanced presentation and a sound basis for evaluating the investment being promoted. The sales materials also contained forward looking and misleading statements that implied investor success, and contradicted the inherent risks associated with the subject investment. The suspension is in effect from April 2, 2018, through June 1, 2018. (FINRA Case #2016049202201). If you or someone you know has lost money investing with Michael Hurtgen, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.