Rafael Santiago, of Edison, New Jersey, a stockbroker with COR Clearing, LLC, has been named in a customer dispute where the customer has requested $778,119.00 in damages based upon the allegations that Santiago made recommendations to purchase securities that were valueless and engaged in a scheme to defraud the investor.
According to FINRA BrokerCheck, Santiago was also subject to three additional disclosure incidents, and on October 5, 2014, Santiago was terminated from COR Clearing, LLC, amid allegations that he engaged in the unauthorized trading of a customer’s investment account. On September 9, 2015, Santiago became subject to a pending customer dispute, in which the customer requested $495,000.00 in damages in connection with allegations against Santiago of failing to follow instructions regarding the supervision and administration of the customer’s investment accounts pertaining to the customer’s investment purchases of VGTEL stock. After being terminated by COR Clearing in October 2014, Santiago was registered with Primary Capital until he was barred in April 2016.
On April 1, 2016, Santiago was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after he was found by FINRA to have failed to cooperate with a request for documentation and information in connection with allegations into his misconduct. After being terminated by COR Clearing in October 2014, Santiago was registered with Primary Capital until he was barred in April 2016.
Guiliano Law Group
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