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This guy came highly recommended by the chairman of the college board of trustees, they had this wonderful investment strategy for heavy hitters ($1 Milllion plus). I looked at it and yeah, it was sort of a mutual fund created with different mutual funds and of course the prospectus always gives you the best case scenario so I told my wife, let's give him 100K and see where it goes. He was upset when I told him he was getting that..."This is for people with over a million dollars to invest" "Really? and do you think I'm going to give you a million dollars when I don't know who you are and what you do? The name of the bank means shit to me"...he wasn't too happy but took it. it all went down hill from there, he bought us in on the decline (you never do that) and it just kept going down. Eventually came back up where we only lost 10K. Just found his card, he was the VP Private Financial Advisor for Sun Trust Bank. I wonder if he's still there.
Just looked him up he went into private business.
BUt I found a lot of dirt on the guy.
Without admitting or denying the findings, Coral consented to the sanction and to
the entry of findings that he shared in losses sustained by his member firm's
customer by depositing $34,935 of his personal funds into the customer's account.
The findings stated that specifically, Coral deposited two checks drawn on his
personal bank account in the amounts of $24,715 and $10,220, respectively, into
the account of the firm's customer. Coral deposited the checks in the customer's
account, without the firm's prior knowledge or approval, and without having
previously contributed to the account, to reimburse the customer for losses totaling
approximately $34,934 sustained in connection with the customer's purchases of
Puerto Rican bond holdings that Coral recommended.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 01/24/2017
Sanctions Ordered:
Suspension
Sometimes I wish I had a Harry Potter's wand and make people go up into smoke.Comment
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Puerto Rican Bonds??? Holy sheeet some investor with that would be better off buying that George Washington bridge toll booth.
This guy came highly recommended by the chairman of the college board of trustees, they had this wonderful investment strategy for heavy hitters ($1 Milllion plus). I looked at it and yeah, it was sort of a mutual fund created with different mutual funds and of course the prospectus always gives you the best case scenario so I told my wife, let's give him 100K and see where it goes. He was upset when I told him he was getting that..."This is for people with over a million dollars to invest" "Really? and do you think I'm going to give you a million dollars when I don't know who you are and what you do? The name of the bank means shit to me"...he wasn't too happy but took it. it all went down hill from there, he bought us in on the decline (you never do that) and it just kept going down. Eventually came back up where we only lost 10K. Just found his card, he was the VP Private Financial Advisor for Sun Trust Bank. I wonder if he's still there.
Just looked him up he went into private business.
BUt I found a lot of dirt on the guy.
Without admitting or denying the findings, Coral consented to the sanction and to
the entry of findings that he shared in losses sustained by his member firm's
customer by depositing $34,935 of his personal funds into the customer's account.
The findings stated that specifically, Coral deposited two checks drawn on his
personal bank account in the amounts of $24,715 and $10,220, respectively, into
the account of the firm's customer. Coral deposited the checks in the customer's
account, without the firm's prior knowledge or approval, and without having
previously contributed to the account, to reimburse the customer for losses totaling
approximately $34,934 sustained in connection with the customer's purchases of
Puerto Rican bond holdings that Coral recommended.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 01/24/2017
Sanctions Ordered:
Suspension
With all due respect to my Puerto Rican Nam vet friends like every 9 out of 10 Puerto Rican citizen is on U.S. welfare of some sorts. That place is essentially bankrupt. I would not take their bonds for free.
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Gotta be really dumb to fall for it.
Puerto Rican Bonds??? Holy sheeet some investor with that would be better off buying that George Washington bridge toll booth.
With all due respect to my Puerto Rican Nam vet friends like every 9 out of 10 Puerto Rican citizen is on U.S. welfare of some sorts. That place is essentially bankrupt. I would not take their bonds for free.Sometimes I wish I had a Harry Potter's wand and make people go up into smoke.👍 1Comment
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