FINRA provides important information on securities broker Charles Abad Santos Bonilla (CRD#: 2572107, Boca Raton, Florida). Evidently, Bonilla worked as a securities broker or financial advisor for Pruco Securities from May 2018 to February 2019. Also, he worked for David Lerner Associates Inc. from 2015 to 2018, and Scottrade from 2008 to 2015. Here’s a brief rundown of the allegations of unsuitability and misrepresentation involving the securities broker, and how an investment lawyer can assist you in recovering damages resulting from sales practice violations.
Firstly, it seems that a David Lerner Associates client disputed Charles Bonilla’s actions as a securities broker, per a dispute dated November 23, 2021. The investor’s dispute against the securities firm alleges unsuitable trading, misrepresentation, and omissions. It appears that the securities firm or Bonilla caused the client to incur damages because of making investments in mutual funds and a private placement known as “Energy 11”. Therefore, the client demands that the securities firm pay them damages. It appears that this matter is currently unresolved.
Notably, the regulator sanctioned Charles Bonilla on February 8, 2021, as it imposed a fine of $5,000 and a suspension of 5 months (February 16, 2021, to July 15, 2021). Mainly, FINRA makes allegations of Bonilla violating Rule 2111, which is a rule on unsuitable recommendations and trading. Supposedly, he recommended unsuitable mutual funds and illiquid investments in a limited partnership.
Did Charles Bonilla cause you to experience losses? You could contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a potential recovery of your losses. Soreide Law Group handles investor dispute cases on a contingency fee basis. Also, we advance all costs. The firm has recovered compensation for many US investors who sustained losses because of their financial advisors or securities brokers. Please note that Bonilla denies all accusations of improper sales practices.
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