Alexander Arango Facing Cetera Client Complaints Alleging Misrepresentation

Investors might have sustained losses due to securities broker Alexander Arango (also known as Alexander Arango Burakatskaya) [CRD: 6405666, Dania, Florida], based on the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Arango joined Cetera Investment Services LLC on January 14, 2019. He worked at LPL Financial LLC from April 13, 2015, to December 3, 2018. Continue reading to learn more about the allegations and disclosures related to Alexander practices.

Cetera Investment Services LLC Investor Accused Arango Of Misrepresentation

Specifically, on December 20, 2023, a Cetera Investment Services LLC client filed a complaint about Alexander Arango. Evidently, the client alleged that Arango made misrepresentations. The client claimed that he was told by his advisor that he could not lose money; that the investment was safe. However, the client alleged a loss of $60,000 on structured products. Consequently, the client requested compensation from Cetera Investment Services LLC or Arango. However, the firm denied this complaint.

Alexander Arango Disclosed Misrepresentation Allegations

Particularly, a client of Cetera Investment Services LLC contested Alexander Arango’s sales practices, according to a complaint received on October 24, 2023. Allegedly, Arango made misrepresentations concerning the purchase of a Morgan Stanley structured product. It appears that Arango allegedly caused the client to sustain damages. Because of this, Cetera Investment Services LLC opted to settle the matter on March 8, 2024, by compensating the client in the amount of $50,000.

LPL Financial LLC Investor Accused Arango Of Unsuitable Recommendations

Notably, a client filed a complaint about Alexander Arango. Mainly, the client alleged that Arango made misrepresentations and unsuitable recommendations concerning the investment in a Credit Suisse Continual Coupon Yield Note. Consequently, on July 26, 2022, LPL Financial LLC settled this matter by paying the client $6,500 in damages.

Investor Accused Alexander Arango Of Suitability

Particularly, a client filed a complaint about Alexander Arango. Evidently, the client alleged that Arango made misrepresentations and unsuitable recommendations. Because of this, the client allegedly sustained damages on structured products. Consequently, on November 22, 2021, LPL Financial LLC settled this matter by paying the client $20,000 in damages.

Arango Disclosed Unauthorized Trading Allegations By LPL Financial LLC Client

Also, a client of LPL Financial LLC contested Alexander Arango’s sales practices, according to a complaint. Allegedly, Arango made unsuitable recommendations and misrepresentations. Supposedly, he also engaged in unauthorized trading. Therefore, LPL Financial LLC opted to settle the matter on September 6, 2021, by compensating the client in the amount of $6,987.24.

LPL Financial LLC Investor Accused Alexander Arango Of Misrepresentation

Particularly, a client filed a complaint about Alexander Arango. Evidently, the client alleged that Arango misrepresented information related to a Credit Suisse Note. Because of this, the client allegedly incurred damages. Consequently, on December 14, 2022, LPL Financial LLC settled this matter by paying the client $45,000 in damages.

Did You Sustain Losses Because Of Arango?

Did you suffer losses due to Alexander Arango? If so, get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors across the country, works on a contingency fee basis, and advances all costs. Arango and brokerage firms he worked for deny any allegations of sales practice violations.