Investment Loss Options for Clients of Former Morgan Stanley Broker Jesus Rodriguez
Posted on Monday, January 10th, 2022 at 8:40 pm
Were you the victim of former Morgan Stanley broker Jesus Rodriguez (CRD# 4888685)? Jesus Rodriguez was registered with Morgan Stanley in El Paso, Texas from 2009 to 2021, when he was terminated regarding, “Allegations regarding registered representative’s use of client line of credit for his personal benefit.”
In November 2021, FINRA barred Jesus Rodriguez after he “consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of its investigation of a Form U5 filed by his member firm. The findings stated that the U5 disclosed that Rodriguez had voluntarily resigned a month earlier following allegations regarding his use of client line of credit for his personal benefit.”
Jesus Rodriguez Customer Complaints
Jesus Rodriguez has been the subject of six customer complaints in 2021, according to his CRD report:
September 2021. “Client alleged that there were fraudulent withdrawals from his account 2019 damages unspecified.” The case is currently pending.
September 2021. “Client alleges, inter alia, that funds were misappropriated from their accounts and that there were unauthorized mutual fund trades as well 2020-2021 damages unspecified.” The case is currently pending. The complaint was regarding mutual fund investment losses.
August 2021. “Client alleged that there were unauthorized withdrawals of funds from her account 2020-2021.” The customer is seeking $266,000 in damages and the case is currently pending.
August 2021. “Client alleged, inter alia, that funds were withdrawn from their account without their knowledge 2017-2020.” The case is currently pending.
August 2021. “Client alleges funds were misappropriated from her account in March 2020.” The customer sought $28,000 in damages and the case was settled for $30,470.
July 2021. “Clients allege, inter alia, that the FA used their line of credit for his personal benefit. 2017 – 2021.” The customer is seeking $61,431 in damages and the case is currently pending.
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, Morgan Stanley may be liable for investment or other losses suffered by Jesus Rodriguez’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.