Gerardo Castillo Facing Investment Disputes Involving Wells Fargo, Citigroup Clients

Soreide Law Group is examining investor disputes concerning securities broker Gerardo Ivan Castillo (CRD#: 2886319, Miami, Florida), as disclosed on FINRA BrokerCheck. Notably, Castillo was a securities broker and financial advisor at Wells Fargo Clearing Services (2010 to 2018). He also worked for Citigroup Global Markets Inc. (2007 to 2010). Here’s a brief rundown of the allegations of excessive trading and misleading representations of the securities broker.

Wells Fargo Client Alleges Excessive Trading Of UITs, According To FINRA Arbitration Claim Involving Gerardo Castillo

Specifically, a client of Wells Fargo expressed concerns about Gerardo Castillo’s sales practices, according to a dispute listed on BrokerCheck on December 6, 2019. Supposedly, Castillo caused the client to incur damages relating to the client’s investments in UITs. In particular, the client alleges that the securities firm or broker engaged in excessive trading and misrepresentation. Evidently, the client accepted $125,000 in damages from the securities firm, according to a settlement between the firm and the client on November 30, 2020.

Citigroup Global Markets Client Alleges Damages On Variable Annuity

Particularly, a client objected to Gerardo Castillo’s actions as a securities broker when working for Citigroup Global Markets, as the client brought an investment dispute. Notably, Castillo purportedly caused the client to face damages via his actions relating to a variable annuity. Specifically, the investor alleges inappropriate sales practices, including that the financial advisor allegedly told him that the variable annuity was risk-free. It appears that after reviewing the allegations, Citigroup Global Markets denied the dispute.

Did You Face Financial Harm Because Of Gerardo Castillo?

Notably, an investment lawyer can assist you in recovering damages resulting from improper sales practices. Did Gerardo Castillo directly or indirectly cause you to suffer losses? You could get in touch with Soreide Law Group at (888) 760-6552. Currently, Soreide Law Group takes clients’ cases by a contingency fee arrangement and advances costs. The firm has helped many investors recover compensation after incurring losses caused by their financial advisors or securities brokers. Please note that Castillo denies all accusations of sales practice violations.

Lars Soreide AVVO 2020 Top Lawyer

CONTACT US