Merrill Lynch Broker Jorge Sonville Investment Loss Options
Posted on Tuesday, November 3rd, 2020 at 10:50 pm
Were you the victim of Merrill Lynch broker Jorge Sonville (CRD# 2558540)? Sonville has been registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Miami, Florida since 1995.
Sonville has been the subject of two customer complaints between 1998 and 2020, according to his CRD report. The most recent complaint from September 2020 is regarding, “The customer alleges an unsuitable investment recommendation in July 2015.” The customer is seeking $4 million in damages and the case is currently pending.
According to publicly available records, a customer filed a complaint alleging that Sonville had an undisclosed interest in the liquor store, which was sold in 2020 for $585,000. According to these reports, the investors bought it for $4 million, which was liquidated from a Merrill-managed family trust (that invested $600,000 during a five-year period to support the business). The complaint alleges that the broker’s cousin received a commission for the liquor store sale.
The suit accuses Merrill of negligence in failing to monitor suitability and know-your-customer rules, breach of fiduciary duty, breach of contract and supervisory failures.
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, Merrill Lynch may be liable for investment or other losses suffered by Sonville’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If 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.