bond certificate

Adrian Torres Ortega of Sun City West Arizona a stockbroker formerly registered with BBVA Securities Inc. is referenced in an Arizona Corporation Commission Securities Division Order For Administrative Penalties and Order of Revocation where his stockbroker registration has been revoked based on Ortega being barred by a securities regulator. In the Matter of Adrian Torres Ortega Case No. S-21114A-20-0244 (Oct. 22, 2020).

Arizona Corporation Commission Securities Division sanctioned Ortega based on a disciplinary action taken against him by Financial Industry Regulatory Authority (FINRA). Ortega was barred from associating with any FINRA member in any capacity founded on findings that he failed to cooperate with FINRA’s investigation into allegations of his misuse of customer funds as alleged by BBVA Securities when it terminated Ortega’s employment. Letter of Acceptance Waiver and Consent No. 2018059936201 (Apr. 1, 2019).

According to the AWC, Ortega was expected to provide FINRA with information and documents relating to his possible use of customer funds without authorization by both the customers and BBVA. Ortega indicated to FINRA that he would not cooperate with its requests at any point. Ortega violated FINRA Rules 2010 and 8210 for this reason.

The Arizona Corporation Commission Securities Division Order also noted that on May 15, 2019, Ortega was indicted by Maricopa County Superior Court in which he was charged with one count of theft, three counts of taking the identify of another, and one count of forgery. Case No. CR2019-005077-001. Ortega made a plea deal with the Attorney’s Office in Maricopa County on July 25, 2019 which resulted in Ortega pleading guilty to two felony offenses: forgery and taking the identity of another.

Ortega was registered with BBVA Securities between April 13, 2015 and August 23, 2018. He was discharged based on violating the company’s code of conduct through his “unauthorized debiting” of funds from customer accounts.