UCB Financial Advisors Inc. Charged by SEC with Fraud | Recover Investment Losses

UCB Financial Advisors Inc. Charged by SEC with Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:  

The Securities and Exchange Commission has obtained an asset freeze and other emergency relief, and filed fraud charges, against a Miami, Florida investment professional and two investment firms for engaging in an alleged “cherry picking” scheme in which they channeled millions of dollars in trading profits to preferred accounts.

According to the SEC’s complaint, which was filed under seal in federal court in the Southern District of Florida on June 10, 2021 and unsealed on June 17, 2021, since at least September 2015, defendants Ramiro Jose Sugranes, UCB Financial Advisers, Inc., and UCB Financial Services, Limited engaged in a scheme to divert profitable trades to two accounts believed to be held by Sugranes’ relatives and to saddle other clients with losing trades. The defendants allegedly used a single account to place trades without specifying the intended recipients of the securities at the time they placed the trades. As alleged, after defendants established a position, if the price of the securities increased during the trading day, the defendants usually closed out the position and allocated those profitable trades to the two preferred accounts. Conversely, the complaint alleges that if the price of the securities decreased during the trading day, the defendants usually allocated the unprofitable trades to other client accounts. According to the complaint, the preferred clients, who are named as relief defendants, received approximately $4.6 million from profitable trades while other clients sustained more than $5 million in first day losses.

Investors in UCB Financial Advisors Inc. May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in UCB Financial Advisors Inc, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

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.

If you incurred investment losses with UCB Financial Advisors Inc. 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.

Contact Us Today!

[]
1 Step 1
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right
FormCraft - WordPress form builder

Leave a Reply

Your email address will not be published. Required fields are marked *