Cesar Omar Rodriguez (CRD# 4451732), a broker registered with Avenir Financial Group, was recently accused by securities regulators of raising $173,800 from 6 investors in equity and or promissory notes, only to improperly use about 1/3 of those funds for his own use. The alleged misconduct took place from April 2014 to January 2015.
In a Letter of Acceptance, Waiver & Consent, FINRA – the self-regulatory organization that oversees brokerage firms – accused Rodriguez of fraudulently selling to Avenier customers promissory notes and self-offerings issued by Bull Run Capital Holdings (BRCH), a company that Rodriguez owned or controlled. Allegedly, Rodriguez solicited the investments by claiming the money would be put toward general operational expenses at BRCH. In reality, FINRA says that Rodriquez allegedly used a portion of the money raised from investors for personal expenses unrelated to the operation of BRCH.
It is a violation of securities industry rules to improperly use a customer’s funds and to use manipulative tactics in the purchase or sale of securities. FINRA states that Rodriguez knowingly misrepresented the investments he sold to Avenir customers and improperly used investors’ funds for his own personal expenses, misconduct that is a willful violation of multiple securities industry regulations.
The broker fraud attorneys at Meyer Wilson are currently investigating claims involving Mr. Rodriguez and Avenir. If you invested with Cesar Omar Rodriguez and lost money, we invite you to contact our firm today for a free review of your case.
