Eli Jacob Sanchez of San Antonio Texas a stockbroker registered with Edward Jones is the subject of a customer initiated investment related complaint on December 10, 2018 in which the customer requested unspecified damages based upon allegations of bad advice by Sanchez as it pertained to the Lincoln ChoicePlus Fusion O Share Annuity that was sold to the customer when Sanchez was associated with Edward Jones.
This is not the first time that Sanchez has been referenced in a customer initiated investment related dispute concerning accusations of his misconduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Sanchez is also referenced in a customer initiated investment related complaint which was settled on January 29, 2018 to resolve accusations that the Edward Jones customer was provided with bad mutual fund recommendations and had been required to pay unnecessary sales charges by acting on Sanchez’s advice.
Public Disclosure indicates that Sanchez was discharged by Edward Jones on February 27, 2017 supported by allegations that transactions were facilitated in the customer’s account by Sanchez on a discretionary basis without the stockbroker obtaining written permission from the customer or the securities broker dealer. Edward Jones also indicated that the commissions pertaining to Sanchez’s transactions had been concealed by the stockbroker. Sanchez also failed to comply with the securities broker dealer during the period in which he was subject of its investigation.
