Erez Law is currently investigating former David Lerner Associates, Inc. broker Francisco Cabral (CRD# 5257195) regarding energy sector losses. He has been registered with Ameriprise Financial Services, LLC in Greenwich, Connecticut, since 2021. He was registered with David Lerner Associates, Inc. in White Plains, New York, from 2007 to 2021.
Francisco Cabral Customer Complaints
He has been the subject of two customer complaints between 2020 and 2024, according to his CRD report:
August 2024. “unsuitability, misrepresentation/omission in connection with Energy 12 and Mutual Funds and forgery in connection with Energy 12. The allegations do include misappropriation, forgery, theft or conversion of funds or securities.” The customer is seeking $450,000 in damages, and the case is currently pending. The complaint was regarding mutual funds and Energy 12.
March 2020. “unsuitability, misrepresentation/omission, breach of fiduciary duty, failure to supervise.” The customer sought $800,000 in damages, and the case was settled for $50,000. The complaint was regarding mutual funds, unit investment trusts (UITs), and private placements, including Energy 11.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, David Lerner Associates, Inc. may be liable for investment or other losses suffered by Francisco Cabral’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations, and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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