Broker Jason Lyn Figueroa (CRD #5062799) was formerly registered with The GMS Group, LLC in Boca Raton, Florida from April 2008 to April 2015. During his association with the firm, he was accused of broker misconduct and is currently prohibited from serving as a broker.
According to the FINRA report provided by the Financing Industry Regulatory Authority (FINRA), Jason Figueroa has had nine customer disputes against him, with seven settled, one closed, and one pending. He has a single regulatory event and a criminal event listed as part of his stockbroker history.
In his seven closed disputes, a variety of allegations were brought forth against Figueroa and the damages alleged and settlement amounts ranged from thousands to tens of thousands of dollars. A summary of these disputes are as follows:
- Allegations: Intentional broker misconduct, fraudulent sales practices, unauthorized and unsuitable investments, unauthorized trades, exploitation, deception, breach of fiduciary duty, misrepresentation, negligence, breach of contract, negligent supervision, breach of fiduciary duty and fraud.
- Damages Alleged: $1,385,000 total, ranging from $20,000 to $400,000.
- Settlement Amounts: $519,000 total, ranging from $5,000 to $150,000 per dispute.
What is Investment Fraud? What is Breach of Fiduciary Duty?
Investment fraud refers to any deceptive acts or schemes engaged in by a stockbroker.
Breach of fiduciary duty refers to a person (fiduciary) who has a legal and ethical relationship based on trust with another party. In many cases, stockbrokers have a duty to his investors who rely on him/her for sound advice and keeping their best interest at heart. For stockbrokers who breach this duty, they can cause investors to suffer financial loss, and they can be held responsible for their misconduct by becoming barred or facing criminal action such as imprisonment.
The attorneys at Meyer Wilson focus on stockbroker misconduct and are committed to helping individuals who were targets of such misconduct recover funds lost due to inappropriate behavior on behalf of the broker. They are committed to holding stockbrokers accountable for their actions and upholding justice and are currently in the process of investigating the allegations against Jason Figueroa.
If you are an investor who has lost money from investments that may have been improper, the attorneys at Meyer Wilson are interested in helping you determine if you have been a victim of potential fraud, negligence or other stockbroker misconduct. The attorneys at Meyer Wilson can answer any questions you may have during a no-cost, no-obligation consultation to discuss your case.