Jorge A. Reyes (CRD#: 4256834) is a former registered securities broker. From 2010 to 2017, Mr. Reyes was employed at CP Capital Securities in Miami, Florida. This brokerage firm has since been expelled from the securities industry.
On December 11th, 2018, the Financial Industry Regulatory Authority (FINRA) filed a complaint against Mr. Reyes stating that he sold fraudulent private securities to more than a dozen investors.
Private Placement Fraud: Former CP Capital Securities Representative Jorge A. Reyes
According to FINRA, the alleged wrongdoing in this case occurred between May of 2013 and August of 2016. During this time, investigators believe that Jorge A. Reyes:
● Offered fraudulent private securities;
● Converted the funds of an investor;
● Failed to perform adequate due diligence on behalf of his clients;
● Made unsuitable investment recommendations; and
● Made material misrepresentations in marketing materials.
The private placement offerings in question were CP US Income Group LLC, CP Venture Capital LLC, and CP Venture Capital II LLC. Notably, FINRA contends that Latin American customers were targeted by Mr. Reyes.
As a result of the fraudulent misrepresentations and material omissions made by this broker, FINRA alleges that 18 investors collectively lost a total of $4.2 million. FINRA requests that findings of fact and law be entered against this broker and that all appropriate sanctions are imposed.
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