Articles Tagged with Puerto Rico bond lawyer

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shutterstock_177792281-300x198The law offices of Gana Weinstein LLP are currently investigating claims against advisor Ian M. Deliz Morales (Deliz), formerly registered with Morgan Stanley out of Tampa, Florida.  According to a BrokerCheck report, Deliz has been subject to at least 22 customer disputes, 13 of which are still pending. In addition, Deliz disclosed a $169,324 tax lien against him.  According to records kept by The Financial Industry Regulatory Authority (FINRA), the majority of these disputes concern violations of securities laws regarding unsuitable investments of Puerto Rico bonds and closed-end funds.

Most recently, in June 2019, a client alleged that Deliz violated the securities laws by recommending unsuitable investments in Puerto Rico bonds causing $315,000 in damages.  This dispute is currently still pending.

In July 2017 a customer filed a complaint alleging that Deliz made unsuitable recommendations to hold Puerto Rico bonds in an over-concentrated manner.  The complaint alleged $1 million in damages and was settled for $275,000.

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shutterstock_185582-300x225According to BrokerCheck records former financial advisor Charles Doraine (Doraine), currently employed by Next Financial Group, Inc. (Next Financial) has been subject to at least six customer complaints and one regulatory action.  According to records kept by The Financial Industry Regulatory Authority (FINRA), many of the complaints against Doraine concern allegations of unsuitable investments in Puerto Rican bonds and mutual funds.

In September 2018 a customer filed a complaint alleging that during the period 2012 through 2015, Doraine excessively traded bonds and mutual funds and recommended an unsuitable concentration in Puerto Rican bonds causing $10,000,000 in damages.  The complaint is currently pending

In May 2018 a customer filed a complaint alleging that from October 2012 through 2017, Doraine made in and out mutual fund trades that were unsuitable for a low risk tolerance account.  The customer alleged $2,500,000 in damages and the claim is currently pending.

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