Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Investors may have suffered financial harm by securities broker Carlos C. Garcia [CRD: 2635960, Westport, Connecticut], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Garcia has worked for Kovack Securities Inc. and Kovack Advisors Inc. since October 19, 2012. See below to learn more about Garcia’s disclosures.
Particularly, a client filed a complaint about Carlos Garcia. Primarily, the client alleged that Garcia recommended continuing to hold real estate securities, resulting in unrealized losses. Because of this, the client allegedly sustained damages linked to real estate securities. Consequently, on May 6, 2025, Kovack Securities Inc. settled this matter by paying the client $76,500.
Unsuitable recommendations occur when a broker suggests investments that do not align with a client’s financial situation, objectives, risk tolerance, age, liquidity needs, experience, investment time horizon, and circumstances.
Specifically, FINRA issued Case 2012032914901 on July 22, 2013, fining Garcia $5,000 and suspending him from association with any FINRA member in any capacity for five months. Allegedly, Garcia violated FINRA Rules 2010 and 3270 and NASD Rules 2110 and 3030 by selling approximately $4.3 million in equity-indexed annuities away from his employment with MetLife Securities Inc. without notifying the firm. FINRA also alleged that Garcia received about $338,445 in compensation and falsely certified in five annual attestations that he had not engaged in undisclosed outside business activities. Therefore, Garcia was fined $5,000 and suspended from August 19, 2013, through January 18, 2014.
Do you have concerns or questions regarding investments you made with Carlos Garcia? You should contact Soreide Law Group online or at (888) 760-6552 and speak with a securities attorney regarding a possible recovery of your investment losses. Soreide Law Group has recovered losses for hundreds of investors throughout the US. Also, our securities lawyers handle cases on a contingency fee basis and advance all costs. Garcia and brokerage firms Garcia worked for deny accusations of sales practice violations.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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