Ft. Lauderdale, Fl. October 24, 2018 – The law firms of Mark A. Tepper, P.A. and Lombana Hoelle Trial Law have filed a claim against UBS Financial Services [NYSE: UBS] on behalf of an Argentinian widow and her three children.
The Claim contends that UBS failed to supervise its broker, ALEX GERARDO HERRERA, who misappropriated the widow’s and her children’s funds to build a vacation home for himself. Herrera operated from the UBS Coral Gables, Florida Branch which focused on serving the investment needs of foreign clients, primarily from Latin America, the Claim alleges.
“The UBS broker’s outside investment scheme involved the purchase of an unfinished villa in Coral Gables, Florida. The broker’s scheme was to acquire the property and complete construction, using Claimants’ funds, and then sell it, keeping the profit for himself. Next, utilizing Claimants’ funds from the sale of [the property], the broker bought property in North Carolina and proceeded to build a vacation home for himself,” the Claim alleges.
In addition to other FINRA rule violations, the Claim also contends that [UBS] “charged the widow and her children commission and fees, in excess of $500,000, while generating no profit or investment returns as the stock market was doubling.”
The law firms of Mark A. Tepper, P.A. and Lombana Hoelle Trial Law are continuing investigations into alleged claims against UBS and other brokers. If your broker was Alex Herrera, or you have information related to the Claim against UBS contact either law firm. To contact attorney Mark Tepper, email askmark@marktepper.com or call (954) 961-0096. To contact attorney Maria Isabel Hoelle, email mhoelle@lhtrial.law or call (305) 859-0092.
About Mark A. Tepper, P.A. (www.MarkTepper.com)
Attorney Mark A. Tepper is the former Chief Trial Counsel at the New York Attorney General’s Bureau of Investor Protection and Securities. He has earned the reputation of “Investor Advocate” while practicing law for over 40 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 18 consecutive years as AV PREEMINENT® for ethical standards and legal ability. It’s the highest rating of lawyers in the Martindale-Hubbell Law Directory.
About Lombana Hoelle Trial Law (www.lhtrial.law)
Maria Isabel (“Mary) Hoelle is an experienced civil litigator with over 30 years of experience representing individuals and corporations involving multi-million-dollar disputes before federal and state courts and arbitration panels. Ms. Hoelle’s practice incorporates cross-border issues specifically involving Latin America. She is a member of the Florida Bar and is also admitted to practice in the US District Courts for the Southern, Middle and northern Districts of Florida. Ms. Hoelle has been rated AV Preeminent® for both legal and ethical standards by the Martindale-Hubbell Law Directory and named to its register of Preeminent Women Lawyers.
Ms. Hoelle is fluent in Spanish.
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