Public records published by the Financial Industry Regulatory Authority (FINRA) on June 28, 2016 indicate that former Florida-based Freedom Investors Corporation broker Arthur Espinoza has been permanently barred from acting as a broker. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Espinoza (CRD# 1344849).
Arthur Espinoza has spent 29 years in the securities industry and was most recently registered with Vero Beach, Florida (2005-2014). Previous registrations include Ameritas Investment Corporation in Lincoln, Nebraska; the Advisors Group in Bethesda, Maryland; Nutmeg Securities in Greenwich, Connecticut; FFP Securities in Chesterfield, Missouri; Jonathan Alan & Company; Graystone Nash; and First Jersey Securities. He is currently not registered with any state or firm.
According to his BrokerCheck report, Arthur Espinoza has received one regulatory sanction and two customer complaints.
In June 2016, FINRA sanctioned Arthur Espinoza following allegations he participated in an undisclosed outside business activity. According to FINRA’s complaint, Mr. Espinoza “incorporated a company that was operated by him, and he obtained investors who collectively invested more than $325,000 with the company, and in return for their investments, which were undocumented, Espinoza orally agreed to pay them an annual or semi-annual payment equaling 5.25% of their invested principal.” He is allegedly “unable to account for substantial amounts of the funds he raised from the investors” and is additionally “not currently able to pay the principal back and has no credible plans for doing so.” Mr. Espinoza was issued a permanent bar from acting as a broker or otherwise associating with firms that sell securities to the public.
In 1997, a customer alleged Arthur Espinoza, while employed at FFP Securities, recommended inappropriate investments. The complaint settled in 1999 for $500,000.
In 1989, a customer alleged Arthur Espinoza, while employed at Graystone Nash, misrepresented material facts related to an investment. The complaint resulted in an award to the customer of more than $4.600.
If you have lost money investing with Arthur Espinoza, you may be entitled to recover lost funds. 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 recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.