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Former LPL Financial Broker Reniero Francisco Barred and Sanctioned $14 Million

Former LPL Financial Broker Reniero Francisco Barred and Sanctioned $14 Million

Former LPL Financial Broker Reniero Francisco Barred and Sanctioned $14 Million 150 150 Rex Securities Law

 Reniero Castillo Francisco , formerly a broker with LPL Financial in Newport Coast, California submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Francisco consented to the sanction and to the entry of findings that he failed to provide FINRA with requested information and documents and failed to appear for an on-the-record interview. The findings stated that Francisco’s failure to cooperate impeded FINRA’s investigation. (FINRA Case #2012032452701)

Francisco was registered with LPL Financial 7/2002-11/2010.

According to FINRA records, Francisco and a co-defendant were named in an enforcement action by the U.S. Commodity Futures Trading Commission which charged that they defrauded investors in connection with operating a commodity pool to trade commodity futures contracts and options, made false statements and misappropriated pool funds. In a parallel criminal action Franciso and his co-defendant pled guilty to conspiracy and fraud leading to  sentences of 151 months and 97 months respectively. In addition they were order to pay a fine of nearly $6 million and restitution of over $8 million. 

If you have questions about your brokerage account or wish to discuss how to recover investment losses, call to speak with an experienced securities attorney. 

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

 

 

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