South Florida Arbitration & Litigation Lawyer Blog
West Palm Beach, Florida Securities Arbitration Lawyer, Russell L. Forkey, Esq.
In addition to providing information relative to the results of certain publically available enforcement awards, we have recently added a new feature to our site, which we are incorporating herein. We are now providing iFINRA generated nformation relative to FINRA complaints issued in the months reference below. Please keep in mind that the issuance of a disciplinary complaint represents FINRA’s initiation of a formal proceeding in which findings as to the allegations in the complaint have not been made, and does not represent a decision as to any of the allegations contained in the complaint. Because these complaints are unadjudicated, you may wish to contact the respondents before drawing any conclusions regarding the allegations in the complaint. However, if you feel that you have suffered damage as a result of this same activity, immediately call the law office of Russell L. Forkey for your free initial consultation.
Complaint Filed By FINRA in Janurary of 2011
Daniel Edward Becerril II (CRD #4489715, Registered Representative, Huntington Beach, California, formerly licensed with Veritrust Finanical, LLC.) was named as a respondent in a FINRA complaint alleging that a prospective customer gave Becerril $11,500 to invest in a mutual fund on her relative’s behalf, and although he fraudulently misrepresented that he was going to invest her funds in the mutual fund, he misused the customer’s funds by depositing the funds into a bank account he controlled. The complaint alleges that when the customer inquired about the status of her funds, Becerril attempted to assuage her concerns by making misrepresentations and failing to disclose certain material facts to her. The complaint further alleges that Becerril also provided the customer with a document, which falsely represented that his firm’s New Business department had received her funds which were to be invested within a short time frame. In addition, the complaint alleges that the customer was not satisfied with Becerril’s explanations and documentations, and requested that Becerril return her funds, which he did not return until after she had made a regulatory complaint against him. Moreover, the complaint alleges that Becerril knowingly, willfully or recklessly made misrepresentations of material facts, and omitted to disclose material facts in connection with his offer and sale of mutual fund investment to the customer. Furthermore, the complaint alleges that Becerril failed to produce documents FINRA requested. (FINRA Case #2009018944001)