Articles Tagged with San Juan

AdobeStock_35532974-1-300x200Stoltmann Law Offices is investigating Eric Snyder, who is registered with UBS Financial Services in San Juan, Puerto Rico. He has been registered with this firm since 1982. Snyder has been accused of recommending unsuitable investments, over-concentrating investments, misrepresenting investments, and over-concentrating accounts in unsuitable Puerto Rico closed-end funds. These are all against securities rules and regulations, and UBS can be sued in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis for your losses. The firm has a duty to reasonably supervise its representatives, and if it does not, can be held liable. The call to us at 312-332-4200 is free with no obligation and we take cases on a contingency fee basis only.

According to his online BrokerCheck report, he has been registered with UBS Financial Services in San Juan, Puerto Rico since May 1982 and with UBS Financial Services Incorporated of Puerto Rico in San Juan since February 1991. He has 30 customer disputes against him, 20 of them are pending currently. Many brokers with UBS sold bad, closed-end Puerto Rico bond funds and we have helped many customers recover their losses with these bad investments.

Former Puerto Rico-based TransAmerica Financial Investors broker Pedro G. Seijo recently resigned from the firm while being under “internal review.” There were allegations that he was involved with “unauthorized check withdrawals” from two clients’ variable annuity contracts and subsequent deposits into “an unauthorized account.” Another customer alleged that he executed “unauthorized withdrawals and subsequent check deposits” in relation to a variable annuity investment. Seijo was registered with Transamerica Financial Advisors in San Juan, Puerto Rico from December 1991 until May 2016. He has two customer disputes against him, both of which are currently pending. He is not licensed within the industry. The attorneys at Stoltmann Law Offices are interested in speaking with those investors who may have lost money with Seijo, as we may be able to help them recover their losses on a contingency fee basis. We bring arbitration claims against firms such as Transamerica in the Financial Industry Regulatory Authority (FINRA) arbitration forum. Please call today.

Stoltmann Law Offices is interested in speaking to those investors who may have suffered losses with David Garcia Cirilo, a registered representative with Morgan Stanley in Coral Gables, Florida since 2014. If you or someone you know would like to bring a claim against Morgan Stanley in the Financial Industry Regulatory Authority (FINRA) arbitration forum, we may be able to help you do so on a contingency fee basis. The call to us is free so please call today. 312-332-4200. Attorneys are standing by.

Cirilo was alleged to have made unsuitable investment recommendations, and over-concentrated accounts. He was accused of acting negligently, breaching fiduciary duty, breaching contract, committing fraud, and failed to supervise, among other things. These are all against securities rules and regulations, and brokerage firms may be responsible for these transgressions because the firm has a duty to reasonably supervise its brokers.

Cirilo was registered with UBS Financial Services in San Juan, Puerto Rico from December 1993 until September 2006, UBS Services Inc. in San Juan from September 1994 until September 2006 and Santander Securities in San Juan from September 2006 until April 2014. He is currently registered with Morgan Stanley in Coral Gables, Florida and has been since April 2014. He has seven customer disputes against him, five of which are currently pending.

Did you or someone you know lose money with Damon Vickers or Frank Black, both former brokers with Southeast Investments? If so, you may be entitled to recover your investment losses. Vickers had regulatory actions filed against him by the Sate of Washington Securities Division, alleging that he engaged in excessive trading in customer discretionary brokerage accounts. Allegedly, from 2009 until 2012, Vickers generated $5.3 million in commissions from these trading activities. The division found that the commissions were unreasonable compared to what customers would have been charged had they been offered fee-based accounts. This is often referred to as “churning” and is when a broker excessively trades in a customer’s account in order to generate commissions. It is when a broker frequently buys and sells securities that do little to meet the client’s investment objectives. It is an illegal and unethical practice that violates securities rules and regulations. A broker must take into account a client’s age, net worth, investment objectives, portfolio and investment sophistication before recommending a security.

During this time period, Frank Black was Vickers’ designated supervisor. The state found that Black violated the Securities Act of Washington by failing to reasonably supervise Vickers by approving his commission schedule and failed to maintain adequate supervisory policies regarding the review of discretionary accounts for signs of excessive trading, which is also against securities rules and regulations. Frank Black and Southeast Investments had a duty to reasonably supervise their representatives during the time they were employed there. Their lack of supervision could make them liable for investment losses and Southeast Investments can be sued to recover money.

Vickers was registered with the following firms: The Stuart-James Company, Madison Chapin Associates, Escalator Securities, Aurex Financial Corp, Melbourne GSI Corp, Securities America, Clearing Services of America, Laidlaw Equities, Janssen-Meyers Associates, Capital Securities of America, Westminster Financial Securities, LaSalle St. Securities, Brokersxpress LLC, International Financial Solutions, and Southeast Investments in San Juan, Puerto Rico from October 2008 until February 2014. He has three customer disputes against him and one criminal. He is not currently licensed within the industry.

Stoltmann Law Offices is investigating David Garcia Cirilo, a Morgan Stanley adviser in Coral Gables, Florida. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Cirilo allegedly misrepresented material facts, recommended an unsuitable investment, breached fiduciary duty, made unauthorized transactions, failed to supervise his representatives and over-concentrated a customer account, among other things. These are all against securities rules and regulations. Cirilo was registered with UBS Financial Services in San Juan, Puerto Rico from December 1993 until September 2006 and Santander Securities in San Juan from September 2006 until April 2014. He is currently registered with Morgan Stanley in Coral Gables, Florida and has been since April 2014. He has six customer disputes against him, five of which are currently pending.

If you or someone you know invested money with David Garcia Cirilo, please call our securities law firm at 312-332-4200 to speak to an attorney about bringing a claim against Morgan Stanley. They may be able to be sued in the FINRA arbitration forum for losses because they have a duty to reasonably supervise David Garcia Cirilo. The call is free with no obligation. We take cases on a contingency fee basis only so we only make money if you recover it.

Stoltmann Law Offices is investigating Lee Dana Weiss, a registered investment adviser and owner of Family Endowment Partners LP. Weiss is accused of encouraging investors to invest more than $40 million in illiquid securities issued by several related companies without disclosing the fact that he had an ownership interest in the parent company of those entities. He also received payments from the entities. According to a complaint by the Securities and Exchange Commission (SEC), between 2010 and 2012, Weiss advised 11 Family Endowment Partners clients to invest more than $40 million in a French company that designed methods to reduce the harmful effects of tobacco smoking. Weiss received more than $600,000 in payments for himself.

Weiss was registered with Merill Lynch in New York, New York from October 1992 until November 2003, Fidelity Brokerage Services in Boston, Massachusetts from January 2004 until September 2007, FEP Investments in Boston from January 2009 until March 2009, and Stillpoint Capital in Tampa, Florida from March 2011 until August 2015. He is currently registered with MIP Global, Inc. in San Juan, Puerto Rico and has been since January 2014. He has 7 customer disputes against him, four of which are currently pending. If you invested money with Lee Dana Weiss, please call our securities law firm at 312-332-4200 for a free consultation with an attorney. There is no obligation. We take cases on a contingency fee basis only.

Stoltmann Law Offices is investigating Damon Vickers, a financial advisor with Southeast Investments. The Washington Division of Securities filed a complaint against him that alleged that he excessively traded in his customer accounts and earned over $5.3 million in commissions from 2009 until 2012. The complaint also alleged that he provided investment advisory services, despite having no advisory license or registration. The Washington Division of Securities seeks to impose fines on Vickers and to revoke his securities license.

Vickers was registered with The Stuart-James Company, Madison Chapin Associates, Escalator Securities, Aurex Financial Corp, Melbourne GSI Corp, Securities America, Clearing Services of America, Laidlaw Equities, Janssen-Meyers Associates, Capital Securities of America, Westminster Financial Securities, LaSalle St. Securities, Brokersxpress, International Financial Solutions, and Southeast Investments in San Juan, Puerto Rico from October 2008 until February 2014. He has three customer disputes against him and one criminal. He is not currently licensed within the industry, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report.

If you invested money with Damon Vickers, please call our securities law firm at 312-332-4200 to speak to an attorney. The call is free with no obligation. You may be able to sue his former firm, Southeast Securities, for not reasonably supervising him while he was employed there. We take cases on a contingency fee basis.

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