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Customer Alleges Angel Canabal Over-Concentrated their life savings in Puerto Rico Bond Funds

Angel CanabalPublic records provided by the Financial Industry Regulatory Authority (FINRA) on January 9, 2017 indicate that Puerto Rico-based UBS Financial Services broker Angel Canabal has been the subject of numerous resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Canabal (CRD# 2180310).

Angel Canabal has spent 25 years in the securities industry and has been registered with UBS Financial Services in Mayaguez, Puerto Rico since 1998. He was previously registered with Merrill Lynch in New York, New York. He is a registered broker with Florida, New York, Pennsylvania, Puerto Rico, Texas and West Virginia.

According to his BrokerCheck report, Angel Canabal has received twenty customer complaints and 32 pending customer complaints.

In October 2016 a customer alleged Angel Canabal, while employed at UBS Financial Services, recommended unsuitable investments and margin loans, and misrepresented and omitted material facts. The customer is seeking $7,000,000 in damages in the pending complaint.

In August 2016 a party of customers alleged Angel Canabal, while employed at UBS Financial Services, over-concentrated their life savings in Puerto Rico bond funds and recommended margin loans as “safe” and “conservative.” The customers are seeking $15,000,000 in damages in the pending complaint.

In March 2016 a customer alleged Angel Canabal, while employed at UBS, misrepresented and recommended unsuitable investments in closed-end funds. The complaint settled in September 2016 for $184,500.

In 2015 a customer alleged Angel Canabal, while employed at UBS, recommended unsuitably concentrated investments and failed to disclose risks. The complaint settled for $50,000.

In 2014 a customer alleged he, while employed at UBS Financial Services, misrepresented material facts, recommended unsuitably concentrated investments, and omitted material facts. The complaint settled in March 2016 for $220,000.

In 2014 a customer alleged Mr. Canabal, while employed at UBS, misrepresented and omitted material facts related to unsuitably concentrated investments. The complaint settled in August 2016 for $123,000.

In 2014 a customer alleged he, while employed at UBS Financial Services, recommended unsuitably concentrated investments. The complaint settled for $375,000.

In 2014 a customer alleged he, while employed at UBS, misrepresented and recommended unsuitable investments. The complaint settled for more than $696,700.

In 2014 a customer alleged he, while employed at UBS Financial Services, led an unsuitable trading strategy. The complaint settled for $485,000.

If you or someone you know has a complaint regarding Angel Canabal, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.