SEC Charges Florida Advisor Over Multi-Year Trading Scheme

Posted on July 13th, 2021 at 1:17 PM
SEC Charges Florida Advisor Over Multi-Year Trading Scheme

From the Desk of Jim Eccleston at Eccleston Law:

The Securities and Exchange Commission (SEC) is filing suit against a Miami-based investment advisor for allegedly conducting a “cherry-picking” trading scheme. The complaint alleges that Ramiro Sugranes fraudulently reaped nearly $5 million from around 100 clients over the past five years. Through his “cherry-picking” scheme, Sugranes allegedly stole small amounts from clients’ profitable trades at his investment advisory firms, UCB Services and UCB Advisors. According to the complaint, he utilized his parents’ account to facilitate the fraud. 

The court granted the SEC an emergency freeze on Sugranes’ as well as his parents’ assets. Sugranes, who worked in the industry for over two decades, resigned from an advisor job in 2004 “for failing to follow company procedures concerning transactions in one of his relative’s accounts”, according to the complaint. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, sec, scheme

Return to Archive



I am so glad I found you! Wow! I appreciate your help, concern and guidance.



September 26, 2023
Looming Real Estate Crisis Poses Risk to U.S. Banking Sector

With the current downturn in the commercial real estate market, trillions of dollars in loans and investments pose a looming threat to both the banking industry and potentially the broader economy.

September 25, 2023
Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum

Apollo Global Management and Carlyle Group, two major private equity firms, now face investor lawsuits regarding payments made to insiders without apparent justification.

September 22, 2023
State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.