Former New York Broker, JAIME R RODRIGUEZ, Barred by FINRA for Alleged Theft from Elderly and Blind Client

JAIME R RODRIGUEZ CRD#: (5128530),
a former HSBC broker in New York was barred by FINRA for allegedly converting $200,000 of a legally blind and elderly client so he could purchase two apartments in his own name.
According to the FINRA report, JAIME R RODRIGUEZ, was also a branch relationship banker for HSBC in New York, and served as the client's premier relationship manager.
Rodriguez allegedly befriended the client soon after meeting him in December 2010 and did errands for him.  FINRA’s findings stated that when the client's lease on his apartment was terminated, Rodriguez offered to assist the client with locating and purchasing an apartment for approximately $70,000 in the Bronx using the client's funds. The apartment was supposed to be purchased in the client's name, but without the client’s knowledge, Rodriguez was the sole beneficial owner of the apartment.  Although Rodriguez legally owned the apartment, the client moved into the apartment and lived there for several years.  The client was not able to read the documents due to his blindness.
According to FINRA, two months after the client moved into the apartment in October of 2012, Rodriguez recommended that the client open a joint bank account with Rodriguez so Rodriguez could assist the client with paying his bills. The joint banking account was opened at a non-affiliated bank with an initial opening balance of approximately $42,000. The joint bank account was funded exclusively by the client and reached a balance as high as approximately $153,000 in September 2013. The funds in the joint bank account were intended to be used solely for the benefit of the client and were only to be withdrawn with the client's permission.
In December 2013, JAIME R RODRIGUEZ used money from the joint bank account to purchase a second apartment in Yonkers for $130,000 and also named himself the sole beneficial owner.  According to FINRA, the apartment was to have been purchased in the client's name. The client never lived in the Yonkers apartment, and Rodriguez rented it to tenants, collected and kept the rent money without the client's authorization.
FINRA has barred JAIME R RODRIGUEZ from acting as a broker or otherwise associating with firms that sell securities to the public.
According to FINRA’s BrokerCheck, JAIME R RODRIGUEZ, was in the securities industry for 9 years and was listed with the 5 firms below:
06/06/2016 - 04/26/2017  CUSO FINANCIAL SERVICES LP - Port Chester, NY
01/02/2015 - 06/03/2016  CAPITAL ONE INVESTING LLC - WHITE PLAINS, NY
09/25/2014 - 01/02/2015  CAPITAL ONE INVESTMENT SERVICES LLC - FAIR LAWN, NJ
12/06/2010 - 07/21/2014  HSBC SECURITIES (USA) INC - BRONX, NY
07/03/2007 - 11/16/2010  CHASE INVESMENT SERVICES CORP - BRONX, NY
If you or an elderly loved one were clients of former broker JAIME R RODRIGUEZ of New York, and you experienced losses due to his actions or recommendations, call Soreide Law Group for a no-cost consultation with an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
 
Soreide Law Group operates on a contingency fee basis and we represent clients nationwide before FINRA.  Let our years of experience work for you.