John Luis Torres (also known as Juan Luis Torres), of Woodland Hills, California, a stockbroker registered with JP Morgan Securities LLC, was the subject of a customer initiated investment related civil action that was settled for $1,200,000.00 in damages based upon allegations that Torres aided and abetted a $1.85 million theft during the time that Torres was associated with JP Morgan Securities LLC. Civil Action No. 0:19-CV-62843-KMW (May 13, 2022).
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Torres is referenced in three other customer initiated investment related disputes concerning Torres’s conduct while associated with securities broker dealers.
On March 15, 2019, another customer filed an investment related complaint involving Torres’s conduct in which the customer requested $860,000.00 in damages based on allegations that Torres engaged in activities leading to misappropriation of funds at JPMorgan Chase Bank, an affiliate of JPMorgan Securities LLC. The customers allege that between December 2017 and May 2018, third parties solicited them to make an investment not offered by the securities broker dealer or their employees. Allegedly, Torres opened a bank account in the name of the third-party business into which the customers’ funds were deposited. Supposedly, the customer funds were subsequently misappropriated by the third parties who solicited the investment. The customer withdrew this complaint.
On July 16, 2020, a customer filed an investment related arbitration claim about Torres in which the customer requested $22,000,000.00 in damages based upon allegations of misrepresentations and aiding theft. JAMS Arbitration No. 1460006621.
On June 9, 2022, a customer initiated investment related civil action involving Torres’s conduct was settled for $57,100.00 in damages based upon alleged aiding and abetting of theft and misrepresentations of material fact about banking products.
On April 26, 2019, Torres was barred by FINRA because Torres failed to respond to a FINRA request for information. According to FINRA’s Notice of Suspension and Suspension from Association letters dated January 23, 2019, and February 19, 2019, Torres is automatically barred from the securities industry. Torres failed to request the termination of a FINRA suspension within three months of the date of the Notice of Suspension.
Torres was associated with JP Morgan Securities LLC in Woodland Hills, California from May 10, 2014, to August 20, 2018.
