Two Former UBS FINANCIAL SERVICES Brokers, Alex Herrera and John Maccoll, Barred by FINRA

ALEX GERARDO HERRERA CRD#: 3204779, a former registered representative from UBS FINANCIAL SERVICES of Coral Gables, Florida, was barred by FINRA, August 8, 2018. Herrera consented to the sanction and to the entry of FINRA’s findings that he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities and private securities transactions. Herrera had resigned from UBS voluntarily while under internal investigation of alleged unapproved real estate dealings with clients. Alex Herrera was registered with UBS from March of 2012 to May of 2018.
According to FINRA’s BrokerCheck, Alex Herrera has a Customer Dispute pending filed May 23, 2018.  The allegations are, “March 1, 2018 to April 17, 2018 The client's attorney alleges the Financial Advisor stole her client's money to buy a vacation home.”
Alex Herrera had been in the securities industry for 18 years and was listed with 5 firms. The most recent listed below:
03/08/2012 - 05/04/2018  UBS FINANCIAL SERVICES INC - CORAL GABLES, FL
07/25/2006 - 03/09/2012  HSBC SECURITIES (USA) - CORAL GABLES, FL
JOHN COCHRAN MACCOLL (CRD#: 839441), another former UBS FINANCIAL SERVICES' broker, has been charged by the SEC with defrauding approximately 15 clients out of around $4 million.  According to the SEC complaint allegedly, Maccoll, from 2008 to March of 2018, used high-pressure sales tactics and told lies to persuade his clients to invest in a private fund which he said would generate up to 20% in annual returns.
According to FINRA’s BrokerCheck, John Maccoll was registered with UBS FINANCIAL SERVICES in Birmingham, Michigan from January of 2006 until March of 2018. According to his report, he was discharged “after failing to cooperate into the Firm's investigation that he misappropriated money from a client. FA (Financial Advisor) later informed the Firm that he misappropriated funds from 13 clients.” FINRA barred Maccoll on March 29, 2018 for failing to respond to their request for information.
The SEC’s complaint alleges Maccoll told his clients that the growth potential of the private fund investment was higher than what they were currently receiving from another firm and he allegedly convinced them to sell or borrow against their securities to fund the investment in the private fund Maccoll was soliciting. However, according to the SEC, when Maccoll received $4 million from the clients, he allegedly spent nearly $3.6 million on his own personal expenses and paid more than $400,000 to other clients in a Ponzi-like scheme.
According to FINRA’s BrokerCheck, John Maccoll had 16 Disclosures on his report, of which 14 are Customer Disputes dating back to 1990.  Maccoll had been registered in the securities industry for 40 years and was listed with 5 firms, the most recent below:
01/13/2006 - 03/23/2018  UBS FINANCIAL SERVICES INC - BIRMINGHAM, MI
If you’ve suffered financial losses due to former UBS FINANCIAL SERVICES INC brokers, Alex Herrera or John Maccoll, contact Soreide Law Group, based in South Florida, and speak at no cost to a securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationally before FINRA and operates on a contingency fee basis.  Let our years of experience work for you.