Alexis Lertora of Miami Florida a stockbroker formerly employed by CP Capital Securities is the subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which FINRA recommended that enforcement action be brought against Lertora for defrauding investors and making unsuitable recommendations to customers pertaining to promissory notes investments. Wells Notice Examination No. 20160514937 (Apr. 5, 2017).
According to the Wells Notice, FINRA alleged that Lertora engaged in deceptive and manipulative activities concerning the sale of promissory notes to three customers and sale of a private offering to two customers; conduct violative of FINRA Rules 2010, 2020, Securities and Exchange Act of 1934 Section 10(b) and Securities Exchange Commission (SEC) Rule 10b-5.
FINRA also alleged that Lertora negligently engaged in fraudulent transactions concerning the promissory notes and private offering; conduct violative of FINRA Rules 2010 and Securities Act of 1933 Sections 17(a)(2) and 17(a)(3). FINRA additionally alleged that Lertora failed to have an adequate basis to conclude that the private offering and promissory notes recommendations were suitable for customers in consideration of the customers’ investment profiles; conduct violative of FINRA Rules 2010 and 2111.
Moreover, FINRA alleged that in connection with the private offering, Lertora disseminated marketing materials which were misleading, unfair, unbalanced and plagued with omissions regarding risks of investments; conduct violative of FINRA Rules 2010 and 2210.
Lertora’s registration with CP Capital Securities was terminated on April 5, 2017. FINRA expelled CP Capital Securities from FINRA membership based upon accusations that the firm failed to pay the fine imposed by FINRA in connection with Letter of Acceptance Waiver and Consent No. 2013038002601 (Apr. 29, 2016) – a matter in which the firm was censured and fined by FINRA by consenting to findings that it failed to supervise unregistered securities offerings.
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