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.
Soreide Law Group has filed several cases on behalf of our clients against brokers who recommended:
Petróleo Brasileiro S.A. - Petrobras (PBR)
Brazil's state-run energy giant Petroleo Brasileiro S.A., or Petrobras PBR has one of the highest debt loads in the oil industry. With the drop in crude oil prices and the weakened Brazilian real, the company is falling to record lows. Petrobras has also been involved in a multi-million dollar money laundering scam.
Petroleo Brasileiro S.A., (Petrobras PBR ) headquartered in Rio de Janeiro, is the largest integrated energy firm in Brazil and Latin America. The company’s activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks, as well as refining, processing, trading and transportation of oil and oil products, natural gas and other fluid hydrocarbons, in addition to the other energy-related activities.
Petroleo Brasileiro S.A., (Petrobras PBR ) experienced a loss in the first-quarter of 2016. It had a loss of $318 million, while in the same period a year ago, it had generated a profit of $1,862 million. Low production and weak commodity prices led to it’s under-performance. Petrobras’ net operating revenues of $17,989 million were 31% less than the year before of $25,967 million.
As oil and gas stocks plummet, the investors are suffering devastating losses. Many of these losses are investments from retirement accounts and life savings. These losses can change lifestyles and futures of the investors. Dozens of oil companies are declaring bankruptcy leaving the investor standing in line behind all of the creditors. Many investors were not given the proper information from their brokers of just how risky and volatile these stocks can be before they followed their brokers' recommendations and purchased them for their otherwise conservative, retirement-oriented portfolios.
If you have sustained investment losses in Petroleo Brasileiro SA – Petrobras (PBR) or other oil and gas stocks due to the recommendations of your broker/financial advisor, call the Soreide Law Group for a no-cost consultation with an attorney on the possible recovery of your losses at: 888-760-6552.
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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