Lopez is facing a customer complaint over losses in Northstar Healthcare Income REIT
The Sonn Law Group is investigating allegations that Enrique Lopez recommended unsuitable investments. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Enrique Lopez (CRD#: 2209385) was recently named in a FINRA complaint filed by a former client against LPL Financial for Northstar Healthcare Income REIT and other REIT losses.
The client alleged that between 2014 and 2016, Lopez misrepresented and recommended unsuitable, concentrated investments in speculative real estate investment trusts (“REITs”). The customer also alleged that Lopez recommended an unsuitable annuity switch. The customer is seeking $2 million in damages and the matter is still pending.
Northstar Healthcare Income is a non-traded REIT that invests in equity, debt and securities investments in healthcare real estate. Its shares were sold at $10 a share. In December 2017, Northstar Healthcare Income reduced its distribution payments by more than 50%.
On December 18, 2018, its shares were devalued to $7.10 a share, however, the shares are illiquid and trade a steep discount in the secondary market in the $2-$3 range. In early 2019, Northstar Healthcare Income announced the suspension of all distribution payments to investors.
In April 2017, Lopez was the subject of a customer dispute that alleged he sold unsuitable products to a client that the client was not eligible for between October 2011 and December 2015. Damages were granted in excess of $1.5 million. Lopez was one of four financial advisors mentioned in the complaint.
Lopez was employed by LPL Financial from 2008 until 2018. He is currently employed by Arkadios Capital in McAllen, Texas.
Contact Us Today
The Sonn Law Group is currently investigating allegations that Enrique Lopez recommended unsuitable investments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.