SEC Charges Former UBS Advisor For Alleged Misappropriation

Posted on January 28th, 2022 at 1:15 PM
SEC Charges Former UBS Advisor For Alleged Misappropriation

From the Desk of Jim Eccleston at Eccleston Law:

The Securities and Exchange Commission (SEC) has charged a former UBS advisor, German Nino, for allegedly misappropriating $5.8 million of client funds. 

Nino, who worked out of Weston, Florida, allegedly misappropriated at least $4.2 million over a six-year period, according to the SEC’s complaint. The SEC alleges that Nino spent the ill-gained $4.2 million on gifts for multiple women with whom he had romantic relationships. The SEC further alleges that Nino attempted to cover up the misappropriation primarily by forging signatures on letter of authorization and designing fake account statements. 

Additionally, Nino allegedly utilized another $1.6 million to repay funds he had misappropriated from a separate client. The SEC’s complaint was filed in the U.S. District Court for the Southern District of Florida and seeks injunctive relief, disgorgement of ill-gotten gains, prejudgment interest, and civil penalties. 

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

Tags: eccleston, eccleston law, sec, ubs advisor, misappropriations

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