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Former Wells Fargo Broker Ramon Herrera Under Regulatory Suspension for Misconduct

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Former Wells Fargo broker Ramon Herrera was recently suspended after failing to respond to FINRA requests for information during its regulatory investigation. FINRA was investigating allegations that Herrera withdrew client funds without permission and participated in excessive trading. Herrera has three months from the date of the Notice of Suspension to request termination of his suspension – if he does not, he will automatically be barred from ever being a financial advisor again.

Though not currently registered with a FINRA member firm, Ramon Herrera worked for Wells Fargo from 2012 to 2018. Herrera has one pending customer dispute on his report alleging he withdrew money from a client’s account without proper authorization. That client is seeking damages of $20,000. He also has a settled dispute on his report from earlier this year that alleged excessive trading of a client’s brokerage account and claimed Herrera withdrew $75,000 from the client’s bank account without permission. The dispute settled for $105,000.

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Clients should always feel comfortable while working with investment brokers like Ramon Herrera and should never feel as though they’re being taken advantage of. Unfortunately, Herrera’s actions and misconduct not only damaged the relationship and trust between him and his clients but also between his clients and his firm. If you lost money working with Herrera, our investment fraud attorneys at Meyer Wilson may be able to help you fight for and secure the compensation you need. Give our office a call today at (614) 532-4576 to discuss your case, or fill out our online form to schedule a free case evaluation. You may be entitled to damages.

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