Tagged with "Puerto Rico"

Ponzi Scheme Operator Charged with Fraud

Posted on November 23rd, 2016 at 9:33 AM
Ponzi Scheme Operator Charged with Fraud

Carlos Maldonado, owner of Business Planning Resources International Corporation (BPRIC), and associated under the incorporation documents with Pet Card Systems, Inc., and Datavos Corporation, was arrested and charged with securities fraud and bank fraud . 

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Oppenheimer Funds Fight Puerto Rico’s Debt Issue

Posted on July 23rd, 2015 at 11:46 AM
Oppenheimer Funds Fight Puerto Rico’s Debt Issue

Puerto Rico’s governor is adamant that the island is unable to pay back its $72 billion debt, but OppenheimerFunds Inc., the largest mutual-fund holder of the bonds, believes otherwise.

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UBS Drove Reluctant Brokers to Sell High-Risk Puerto Rico Funds

Posted on March 6th, 2015 at 5:25 PM

In April 2011, two years before the fund prices sank, UBS brokers were asked by the firm to sell more of the funds’ shares, even though the brokers were reluctant to do so given the funds’ low liquidity, excessive leverage, oversupply and instability. 

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UBS Pays $1.68 Million to Settle Some Puerto Rico Bonds Loss Claims

Posted on November 20th, 2014 at 9:01 AM

UBS has agreed to compensate $1.681 million to 34 Puerto Rico-based investors for their losses in investments in their municipal bond closed ended funds.

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LATEST NEWS AND ARTICLES

September 23, 2022
CFP Board Lifts Interim Suspension of Former UBS Advisor

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

September 22, 2022
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

September 21, 2022
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy.