Daniel Benjamin Vazquez Sr. (also known as Dan Vasquez Senior) of Irvine California a stockbroker formerly registered with Cetera Advisors LLC is the subject of Securities and Exchange Commission (SEC) administrative proceedings in which the regulator will determine whether to bar Vazquez as a stockbroker or investment adviser representative among other capacities founded on allegations of Vazquez defrauding New Economic Opportunities Fund I, LLC (NEON) investors via Hoplon Financial Group. Case No. 3-19720 (Mar. 3, 2020).
According to SEC, Vazquez has been ordered to refrain from violating Securities Exchange Act of 1934 Sections 10(b), SEC Rule 10b-5 and Securities Act of 1933 Section 17. SEC v. Daniel Vazquez et al. Civil Action No. 8:18-cv-0047. Vazquez allegedly created NEON to accumulate funds from investors for purposes of buying and selling real estate. SEC alleges that funds had been misused by Vazquez which caused NEON investors to experience losses.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Vazquez has been identified in nine customer initiated investment related disputes containing accusations of his misconduct during the period that he was associated with securities broker dealers including Investors Capital Corp and Cetera Advisors LLC. Vazquez is referenced in a customer initiated investment related arbitration claim where the customer requested $150,000.00 in damages based upon allegations of Unsuitable investment recommendations by Vazquez during the time that he was associated with Foothill Securities. FINRA Arbitration No. 20120306704-01.
On October 30, 2017, another customer initiated investment related arbitration claim concerning Vazquez’s conduct was settled for $65,000.00 in damages supported by accusations of negligence and the violation of a fiduciary duty in regard to private placements, stocks and annuity products sold by Vazquez at Cetera and Investors Capital Corp. FINRA Arbitration No. 16-02455.
Vazquez is also the subject of a customer initiated investment related arbitration claim which was resolved for $14,000.00 in damages founded on allegations that the customer had been placed into unsuitable private placements and equities by the stockbroker. FINRA Arbitration No. 17-00126 (Jan. 3, 2018). According to the claim, a fiduciary duty that was owed to the customer had been breached and Vazquez’s negligence resulted in the customer’s investment losses. The claim also alleges that misrepresentations had been made by the stockbroker in regard to investments and that the customer was defrauded because of Vazquez’s conduct.
Another customer initiated investment related arbitration claim involving Vazquez’s activities was settled for $50,000.00 in damages based upon accusations of the customer being sold Unsuitable stocks and direct investments in limited partnership interests or direct participation program interests. FINRA Arbitration No. 17-01398 (Feb. 21, 2018). Vazquez is also the subject of a customer initiated investment related complaint which was resolved for $75,000.00 in damages on April 25, 2018 founded on allegations of the stockbroker selling away and initiating transactions that were not appropriate for the customer.