Investor Alert: International Assets Advisory, LLC Financial Advisor Dennis Coral

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Erez Law is currently investigating International Assets Advisory, LLC financial advisor Dennis Coral (CRD# 4561718) regarding sales of Puerto Rico bonds. Coral has been registered with International Assets Advisory, LLC in Orlando, Florida since 2017. Coral was with Suntrust Investment Services, Inc. in Fort Lauderdale, Florida from 2014 to 2017.

In January 2017, Coral was suspended by FINRA for 15 days after he consented to the sanctions that he shared in losses sustained by his customer by depositing $34,935 of his own money into the customer’s account to reimburse the customer for losses sustained in connection with the customer’s purchase of Puerto Rico bonds.

Puerto Rico suffers from long-term financial and economic deficiencies that rendered its credit increasingly more speculative. The deterioration of Puerto Rico’s financial condition culminated in its debt being downgraded to junk status or speculative (below investment grade). For the past several years, Puerto Rico has been struggling with compounding debt and economic decline. As a result, the value of Puerto Rico’s municipal tax-free bonds has considerably fallen. Since September 2013, when the steep decline in Puerto Rico bond values began, investors holding these bonds have suffered massive losses.

A broker must have reasonable grounds for each recommendation made to investors considering such factors as the customer’s other securities holdings, financial situation, and risk tolerance. In addition, before a firm offers a security to its customers, the firm must conduct due diligence, investigating the facts surrounding the security, to confirm that it is suitable for any customer of the firm. The suitability of an investment for a particular individual is at the center of the investment process and one of the key fiduciary duties owed by a firm and its broker to the customer. A firm may be held liable for its failure to recommend suitable investments to its customers.

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, International Assets Advisory, LLC and Suntrust Investment Services, Inc. may be liable for investment or other losses suffered by Dennis Coral’s customers.

Erez Law represents investors in the United States for claims against International Assets Advisory, LLC financial advisor Dennis Coral, who is alleged to have recommended investments in Puerto Rico bonds. If you were a client of International Assets Advisory, LLC financial advisor Dennis Coral or another firm, and 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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