GOODMAN & NEKVASIL P.A, MAY RECOVER YOUR INVESTMENT LOSSES – ROBERT ESTEVEZ SUSPENDED FROM SECURITIES INDUSTRY
Robert Estevez currently works for Joseph Gunnar & Co. LLC, and has previously worked for Investors Capital Corp. Robert Estevez was suspended from the securities and investment banking industry for two months by the Financial Industry Regulatory Authority (FINRA) in September 2016. Robert Estevez consented to findings that Robert Estevez recommended unsuitable, short-term steepener transactions to his customers. The findings stated that Steepeners are complex, structured products with returns linked to the spread between longer-and shorter-term interest rates – the so-called steepness of the yield curve. Robert Estevez recommended these products as part of an active, short-term trading strategy. In fact, Robert Estevez recommended that some of his customers hold the steepeners for as little as two months. As a result of the illiquid secondary market for steepeners, Robert Estevez’ recommendations often resulted in customers buying steepeners at full price and selling them at a loss. This short-term trading strategy was unsuitable, and resulted in customer losses.
Following this suspension by FINRA, the State of Michigan denied Robert Estevez his securities agent registration application in October 2016. The State of Michigan denied Robert Estevez his securities license because Robert Estevez was the subject of an order issued by FINRA, the subject of a Cease and Desist Order issued by the State of New Hampshire, and because Robert Estevez’ liabilities exceed his assets and was therefore found to be insolvent.
FINRA reports that an arbitration claim has been filed alleging churning, concentration, unsuitability and misrepresentation by Robert Estevez, while Robert Estevez worked for Investors Capital Corp. This pending arbitration claim involving Robert Estevez seeks $870,000.
If you lost any money on investments with Robert Estevez while he was employed with Investors Capital Corp. and/or Joseph Gunnar & Co. LLC, you may be able to recover your losses from Investors Capital Corp. and/or Joseph Gunnar & Co. LLC. This is because Investors Capital Corp. and Joseph Gunnar & Co. LLC, had a duty to supervise Robert Estevez.
Assuming you lost money on investments with Robert Estevez and believe that 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 against Investors Capital Corp. and/or Joseph Gunnar & Co. LLC, concerning Robert Estevez’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.
Our firm has a unique, unparalleled track record. Kalju Nekvasil, Esq., has not lost a securities arbitration case in more than 13 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Investors Capital Corp. and/or Joseph Gunnar & Co. LLC.
If you lost money on investments with Robert Estevez 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.
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