Impending Investigation: Jose R. Gonzales and Churning Losses

AdobeStock_33766885-1-300x200Stoltmann Law Offices is investigating Jose R. Gonzales, a former broker with American Trust Investment Services. The Financial Industry Regulatory Authority (FINRA) recently barred him from the industry after he failed to respond to an inquiry against him. Mr. Gonzales was alleged to have churned or excessively traded three of his customer’s accounts. Churning is an especially egregious transgression, as it can generate large commissions for the broker and lead to client’s paying unnecessary fees. It is a tactic used by the broker to make money while making unnecessary trades. If you or someone you know lost money with Jose R. Gonzales, please call our securities law firm today at 312-332-4200 for a no-cost, no-obligation consultation with one of our attorneys today. We are based in Chicago, Illinois and Barrington, Illinois and take cases on a contingency fee basis only so you only pay us money if we recover for you. Please call today as there is a statute of limitations on most cases. We arbitrate cases in the FINRA arbitration forum and bring claims against firms like American Trust Investments Services because the firm may be liable for money losses because of lack of broker supervision.
According to his online, FINRA, public BrokerCheck record, Mr. Gonzalez was registered with Merrill Lynch, Painewebber, Principal Financial Securities, Everen Securities, Raymond James, National Securities Corp and American Trust Investment Services in Chicago, Illinois from November 2013 until October 2016. He has seven customer disputes against him and has been permanently barred from the industry.

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