There are options for clients of former Arkadios Capital broker Michael Lickiss (CRD# 5135936) who suffered investment losses. He was registered with Purshe Kaplan Sterling Investments in Danville, California, from 2024 to 2025, when he was terminated regarding, “Michael was served with a suit related to the alleged actions of his father. Michael had no knowledge of and was not involved in those actions.” Prior to then, he was registered with Arkadios Capital in Danville, California, from 2021 to 2024, and Investment Architects, Inc. in Alamo, California, from 2006 to 2022.
Michael Lickiss Customer Complaints
He has been the subject of eight customer complaints between 2024 and 2025, according to his CRD report:
May 2025. “Debt instruments/Fictitious notes.” The customer is seeking $350,000 in damages, and the case is currently pending. The complaint took place while he was registered with Arkadios Capital.
May 2025. “Fraud, sold fictitious notes unrelated to Arkadios Capital.” The customer is seeking $10,000 in damages, and the case is currently pending. The complaint took place while he was registered with Arkadios Capital, and it was regarding promissory notes and corporate debt
April 2025. “Failure to supervise, breach of fiduciary duty and negligence in the sale of promissory notes.” The case is currently pending. The complaint took place while he was registered with Arkadios Capital, and it was regarding promissory notes and corporate debt.
March 2025. “Negligence, fraud, breach of fiduciary duty.” The case is currently pending. The complaint took place while he was registered with Arkadios Capital, and it was regarding corporate debt.
March 2025. “Failure to supervise, breach of fiduciary duty and negligence in the sale of promissory notes.” The customer is seeking $561,257 in damages, and the case is currently pending. The complaint took place while he was registered with Arkadios Capital.
December 2024. “From May 15, 1999-January 1, 2021, Mr. [REDACTED] engaged Edwin Emmett Lickiss as their advisor, investing several thousands with Michael Lickiss’s father. The client executed a promissory note with Lickiss Sr. They allege breach of contract, violation of securities laws, breach of fiduciary duty, conversion and unjust enrichment.” The customer is seeking $567,014 in damages, and the case is currently pending.
October 2024. “Alleges fictitious bonds during 2013 by father of the registered representative. The registered representative was not in the industry until 2016.” The customer is seeking $2,300,000 in damages, and the case is currently pending. The complaint took place while he was registered with Arkadios Capital.
February 2024. “I was one of a number of named parties in a suit pertaining to alleged actions of my predecessor in interest to my previous firm, Foundation Financial Group, occurring roughly between 2015 and 2022. I did not have knowledge of nor involvement with the alleged actions prior to receiving the concerned lawsuit and was dismissed as a party upon a global settlement being reached after mediation, on or about March 20, 2024.” The case was settled for $1,500,000. The complaint took place while he was registered with Arkadios Capital, and it was regarding corporate debt.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Arkadios Capital may be liable for investment or other losses suffered by Michael Lickiss’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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