The securities fraud attorneys at Meyer Wilson are currently investigating claims against broker and investment adviser Eduardo Alaman (CRD# 3142918).
According to the Financial Industry Regulatory Authority (FINRA), Global Investor Services, L.C. broker and investment adviser Eduardo Alaman (CRD# 3142918) has been the subject of three customer complaints and was fired from Merrill Lynch, his employer from 2000 to March 2014.
Two of the recent customer complaints made against Alaman were regarding the sale of exchange traded funds (ETFs) to the customers. ETFs are complicated and risky products, and the nuances between them can be incredible difficult to understand. Common ETF investment strategies involve short sales, swaps, futures contracts, and other derivatives, all of which can expose the ETF and its investors to significant risk. These customers alleged that Alaman had made unsuitable recommendations of ETFs, and misrepresented and omitted material facts. Those two complaints were settled for $600,000.
Alaman was discharged from Merrill Lynch on February 19, 2014 for allegations that Alaman failed to adhere to the firm’s “Know Your Customer” standards, relied on client profile information provided by third parties, and failed to accurately complete account opening paperwork.
If you lost money investing with Eduardo Alaman, contact the securities fraud attorneys at Meyer Wilson today by filling out the form on our website for a free case consultation. All of our cases are handled on a contingency fee basis, so you won’t need to pay us anything unless we can help you recover your losses.