Gustavo Trujillo Franco of Old Bridge New Jersey a stockbroker formerly registered with Global Strategic Investments LLC (now known as Gentem Capital LLC and LevelX Capital LLC) has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he neglected to provide recorded testimony to the regulator during the time that it was investigating whether he committed fraud through effecting wire transfers of customer funds. Department of Enforcement v. Gustavo Trujillo Franco Disciplinary Proceeding No. 2019064884501 (Feb. 26, 2020).
According to the Complaint, in August of 2018, an examination was conducted by FINRA’s Department of Member Supervision regarding a securities broker dealer that Franco associated with somehow. The Complaint alleged that there was a wire transfer of a customer’s funds initiated by the securities broker dealer. FINRA indicated that the company who received those funds had an affiliation with Franco. The Complaint also alleged that customers’ documents had been falsified by two investment advisors who were affiliated with Franco and who did business with the securities broker dealer.
FINRA stated that Franco was required under Rule 8210 to make an appearance and testify before its personnel on November 18, 2019 in Boca Raton, Florida. The Complaint alleged that an attorney representing Franco in a federal criminal case declined to accept service from FINRA. The regulator indicated that the stockbroker subsequently neglected to show up for testimony on December 16, 2019 and never corresponded with FINRA personnel in regard to its notices regarding his testimony.
FINRA Department of Enforcement alleged that Franco’s conduct violated FINRA Rules 2010 and 8210. Franco was registered with Global Strategic Investments between May 11, 2017 and March 15, 2018.