Enrique Lopez, a broker at by Arkadios Capital, reported a pending customer dispute and two disputes from customers in advance, according to the Financial Industry Regulatory Authority (FINRA).
FINRA is the agency that regulates and approves stockbrokers and brokerage firms. It requires brokers and their brokerage firms to report customer complaints and disputes as well as regulatory sanctions. Brokers are also required to disclose certain financial matters such as personal bankruptcy, judgments, and defects.
Cases Against Enrique Lopez
In the present case of FINRA 19-1608 customers of a prior employed Lopez, LPL Financial is seeking damages of $2 million, and it is alleged that Lopez misrepresented and misappropriated investments in real estate investment trusts (REITs). Also, the customer claims that Lopez recommended an inappropriate annuity change.
Unfortunately, we have seen many of these types of investments being promoted by financial advisors in the past few years. These type of non-traded REITs are not the ones you buy on exchanges and where investors can see pricing, but instead limited partnerships.
Investors are usually looking for income. However, they are often not aware of the risks of non-traded REITs.
An example is one called NorthStar REIT. AlphaBetaStock.com has been reporting it for some time. We have had reports of investors that have had significant losses.
In a previous case, $1.5 million was paid to FINRA 17-904, a Financial LPL customer to resolve allegations that violated Texas State Securities Act Lopez and made unsuitable investment recommendations.
Enrique Lopez worked for LPL Financial from 3 / 2008-8 / 2018 and moved to Arkadios at that time. Lopez reported business affiliations with Cristobal Eden Partners and Texas Regional Bank in McAllen, Texas.
Investigation and Loss Recovery Options
Investors that lost money have several options for recovery. One of the ordinary and best ways is to file a FINRA complaint.
It may sound complicated, but it is very straight forward. A good investment fraud lawyer can handle all the questions you may have an walk you through the processes. It often requires little of your time and no court.
If you have investment losses or information regarding Enrique Lopez, please contact Haselkorn & Thibaut (InvestmentFraudLawyers.com) at 888-628-5590 for a free consultation to discuss your options for recovery.