It was recently reported in the New York Times that UBS Puerto Rico is now investigating it's own brokers over the sales of leveraged bond funds. One such fund is the Tax Free Puerto Rico Fund II which has a leverage ratio of fifty-three percent. Recently, one broker was put on administrative leave for the recommending this fund to a client and suggesting he borrow money to invest in this fund.
A financial advisor of UBS Financial Services Inc. of Puerto Rico, David Lugo, is being investigated for alleged sales of proprietary municipal and leveraged bond funds, including the Tax Free Puerto Rico Fund II.
The Securities and Exchange Commission, SEC, issued a Cease-and-Desist Order in an Administrative Proceeding, on May 1, 2012, against UBS Puerto Rico. UBS Puerto Rico agreed to pay $26 million in disgorgement to settle charges that it sold allegedly mispriced closed end funds to investors.
Please see the most recent blog articles regarding Soreide Law Group and the lawsuits filed against UBS at:
https://www.securitieslawyer.com/securitieslawyerblog/?p=3907
https://www.securitieslawyer.com/securitieslawyerblog/?p=3903
If you purchased funds from UBS of Puerto Rico (https://www.securitieslawyer.com/ubspuertoricofundloss.html), or through UBS in the United States, please call (888) 760-6552 for a free consultation on how you may be able to recover your investment losses. Soreide Law Group (https://www.securitieslawyer.com) is currently representing investors nationally and internationally against UBS.
Soreide Law Group has been contacted by an investor experiencing losses in GWG L Bonds, due to the alleged recommendation of broker/investment advisor, THOMAS CAINE SHULTZ (THOMAS SHULTZ, THOMAS C SHULTZ). Shultz is currently registered both as a broker and investment advisor with REALTA EQUITIES, INC of Phoenix, Arizona since 7/25/2023. He was previously registered with […]
Soreide Law Group is investigating potential investor claims involving TechCreate Group Ltd. (TCGL) stock, particularly whether brokers or financial advisors improperly recommended this security despite emerging warning signs. TCGL is a publicly traded foreign holding company whose shares were subject to an SEC trading suspension, raising serious concerns for investors. There is significant adverse regulatory […]
Investors might have sustained losses due to securities broker Bradley Owen Davidson [CRD: 5142256, Mission Viejo, California], given the publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Davidson has been registered with Emerson Equity LLC since February 2, 2024, and previously worked for firms including Secure Asset Management LLC from February 22, […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com