Jaime Sanchez Rivera – Financial Advisor/Broker Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Jaime Sanchez Rivera is a previously licensed financial advisor with First Southern Securities and Herbert J. Sims.
According to FINRA, Jaime Sanchez Rivera was fined $10,000 and suspended from the securities industry for five months in January 2021.
According to FINRA Allegations:
Sanchez consented to the sanctions and to the entry of findings that he falsified a business document, forged a third party’s signature on the document, and later misled his member firm about the purpose of the falsification. The findings stated that one of Sanchez’s customers was required by court order in a divorce proceeding to document his assets. These assets include debt that Sanchez owed the customer for consultancy services rendered by the customer for Sanchez. Sanchez was embarrassed that he still had not paid the customer for these services and did not want to document his outstanding debt. Accordingly, rather than provide the customer with evidence of this debt, Sanchez decided to falsify a document to show that his customer possessed an asset valued at the debt amount. Sanchez modified a term sheet describing a real estate transaction involving the purchase of senior living housing units by a limited liability company to falsely show that the customer owned an interest in the units. Sanchez forged the signature of the company’s managing partner on the document. The customer provided the falsified term sheet to Sanchez’s firm in connection with questions the customer had about the status of his account. The firm questioned Sanchez, who admitted that he had falsified the document and forged the signature. Sanchez, however, did not want the firm to know that he owed a debt to his customer. Rather than admit to the debt, he misinformed the firm that the purpose of the falsification and forgery was to show the customer that he would make the customer whole for trading losses incurred at a prior form where he was the broker of record. The findings also stated that Sanchez provided the customer with a promissory note falsely representing that Sanchez owed the customer a debt, to assist his customer in obtaining life insurance.
Goodman & Nekvasil, P.A. May Recover Investor Losses:
If you lost money on investments with Jaime Sanchez Rivera and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Jaime Sanchez Rivera’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $200 million on behalf of victimized investors. If you lost money on investments with Jaime Sanchez Rivera and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 10/6/2021 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.