According to the Financial Industry Regulatory Authority, former California-based Merrill Lynch broker Roderick Yzaguirre is the subject of ten customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Yzaguirre.
Roderick Yzaguirre has spent 20 years in the securities industry and was registered with Merrill Lynch from 2009-2015. He was previously registered with Banc of America Investment Services (1999-2009), BA Investment Services (1996-1999), and Smith Barney (1994-1996).
In April 2015, Mr. Yzaguirre was permitted to “voluntarily resign” from Merrill Lynch following allegations of “conduct involving potential misappropriation of client funds and misrepresentations relating to certain securities transactions.” He is currently not a licensed broker with any FINRA member firm.
Roderick Yzaguirre’s BrokerCheck report lists ten customer initiated complaints against him, most occurring in 2015.
For example, In April 2015 a customer alleged Roderick Yzaguirre misappropriated funds between 2007 and 2014. The complaint settled for over $320,000.
In March 2015 a customer alleged Roderick Yzaguirre misappropriated funds between 2010 and 2015. That complaint settled for more than $1.1 million.
Also in March 2015, a customer alleged Roderick Yzaguirre misappropriated funds between 2012 and 2014. The complaint settled for more than $1 million.
Other complaints involving misappropriation of funds by Mr. Yzaguirre have settled for $401,989.43, $265,369.69, and $97,049.13. One customer complaint is currently pending arbitration with the Financial Industry regulatory Authority (FINRA).
The Securities and Exchange Act of 1934 grants investors an array of protections against deceptive brokers. Chief among these is Rule 10b-5, which prohibits “any act or omission” resulting in fraud related to the purchase or sale of any security. Investors who have been defrauded may be entitled to recover their losses.
If you or someone you know has lost money investing with Roderick Yzaguirre, call 877-238-4175 now for a free consultation. All cases are taken on a contingency fee, which means we do not get paid unless and until you recover money. Our consultations are always free.
Time to file your claim may be limited, so do not delay. Call 877-238-4175 now to speak to an attorney for free.