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UBS Broker David Lugo Has 103 Customer Complaints

David LugoAccording to records provided by the Financial Industry Regulatory Authority (FINRA), former Puerto Rico-based UBS broker David Lugo is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lugo (CRD# 3109426).

David Lugo has spent sixteen years in the securities industry and was most recently registered with UBS Financial Services in San Juan, Puerto Rico (2002-2015). He was previously registered with Doral Securities in Puerto Nuevo, Puerto Rico.

According to his BrokerCheck report, David Lugo is the subject of 103 customer complaints and other disclosures.

  • In 2015 a customer alleged David Lugo, while employed at UBS Financial Services, made an unsuitable investment recommendation. The complaint settled for $10,000.
  • In 2014 a customer alleged Lugo, while employed at UBS Financial Services, misrepresented and recommended an unsuitable investment. The complaint settled in 2015 for $19,000.
  • In 2014 a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented and recommended an investment in closed-end bond funds. The complaint settled in 2015 for $700,000.
  • In 2014 a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented and recommended unsuitable investments. The complaint settled in 2015 for $50,000.
  • In 2014 a customer alleged Lugo, while employed at UBS Financial Services, misrepresented and recommended an investment. The complaint settled for $100,000.
  • In 2014 a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented and recommended unsuitable closed-end bond funds. The complaint settled in 2015 for $400,000.
  • In 2014 a customer alleged Lugo, while employed at UBS Financial Services, misrepresented an unsuitable investment. The complaint settled in 2015 for $260,000.
  • In 2014 a customer alleged David Lugo, while employed at UBS Financial Services, misrepresented an investment and made unsuitable recommendations. The complaint settled for $620,000.
  • In 2013 a customer alleged Lugo, while employed at UBS Financial Services, made material misrepresentations and over-concentrated the account. The complaint settled in 2015 for $600,000.
  • In 2013 a customer alleged David Lugo, while employed at UBS Financial Services, breached his fiduciary duty, breached contract, committed fraud, and misrepresented material facts related to an investment. The complaint resulted in an award to the customer of $200,000.

If you have lost money investing with David Lugo, you may be eligible to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you collect money. The law establishes a limited window to file claims, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.