The Sonn Law Group Continues to Investigate Financial Advisor Angel Aquino-Velez

Sources Say He Was Terminated From Employment At Morgan Stanley In July 2017

If you have lost money with Angel Aquino-Velez or UBS, Merrill Lynch or Morgan Stanley due to misconduct, please call us Toll Free at 1-833-912-3000 for a free consultation. Sonn Law Group attorneys represents families that lost a substantial amount of money in Puerto Rican Bonds with Angel Aquino-Velez. Click here to read Reports of Aquino’s complaints.

From 1997 to 2009, Aquino-Velez worked for Doral Securities, UBS, and Merrill Lynch. In 2010, Aquino moved to Morgan Stanley in Miami.

Aquino has seventeen customer complaints on his FINRA BrokerCheck Report. Of those, most appear to to relate to allegations of unsuitable sales of either Puerto Rico municipal bonds or Puerto Rico bond funds.

On October 27, 2015, another customer filed a FINRA arbitration alleging unsuitability and misrepresentations with respect to purchases of municipal bonds. The customer alleged over $2 million of damages. That claim settled for $1,875,000. On November 4, 2015, another customer filed a FINRA arbitration alleging unsuitable overconcentration and misrepresentations concerning closed-end funds. On July 7, 2016, another customer filed a FINRA arbitration alleging unsuitability with respect to a Puerto Rico closed-end fund investment. That claim was settled by Morgan Stanley for $80,000. On December 15, 2016, another customer filed a FINRA arbitration alleging unsuitability with respect to municipal bond investments and closed-end funds.

The customer alleges $6,000,000 in damages. On May 5, 2017, another customer filed a FINRA arbitration alleging unsuitability with respect to municipal bonds. The customer seeks $594,000 in damages. On May 8, 2017, another customer filed a FINRA arbitration alleging unsuitability with respect to municipal bond investments. That customer alleges $6,000,000 in damages.

The Financial Regulatory Authority (FINRA) has sanctioned many brokerage firms over the unsuitable sale of Puerto Rico closed end bond funds and Puerto Rico Bonds, as a result of investigations that found that many firms failed to adequately supervise concentrated sales of bonds and bond funds. Investment accounts that were highly concentrated in Puerto Rico closed end bond funds and bonds suffered very large losses. Investors who received unsuitable investment advice may recover losses by filing for arbitration before FINRA.


Sonn Law Group attorneys represent many families who have suffered losses in Puerto Rico bond funds and bonds. Call for a free consultation today. No Recovery. No Fee. Call Toll Free at 1-833-912-3000 for a free consultation.
 

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