Jorge Reyes of Miami Florida is a stockbroker formerly registered with CP Capital Securities who is subject of a customer initiated investment related civil action brought in Miami Florida on October 24 2016 in which the customer requested one million four hundred fifty-two thousand dollars in damages based upon accusations that the customer was induced to purchase an investment by way of the broker’s misstatements about the customer having the ability to access principal at all times. Civil Action No. 2016-024809-CA-01 (Oct. 24 2016).
Apparently, the customer was not aware that the investments purchased were CP Venture Capital I, CP Venture Capital II and CP US Income Group promissory notes. Consequently, the customer invested $800,000.00 in CP Venture Capital I, $152,000.00 in CP Venture Capital II, and $500,000.00 in CP US Income Group, but sustained losses between 2013 and 2015.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Reyes is also subject of an investment related civil action brought in Date County, Florida, wherein the customer sought restitution by alleging unjust enrichment, fraud, and conversion of the customer’s funds in regard to promissory note arrangements. Civil Action No. 13-12083 CA 20 (Apr. 5, 2013).
CF Capital Securities was fined $41,083.03 by FINRA based upon the firm’s consent to findings that it violated FINRA Rules 2010 and NASD Rule 3010(a) by failing to supervise the firm’s notes sales to make sure they had complied with FINRA Rules and securities laws; and violated FINRA Rules 2010 and 4511 by failing to ensure that records regarding offerings had been properly documented within the firm’s sales and purchases blotters, customer account statements and trading confirmations. Letter of Acceptance, Waiver and Consent, No. 2013038002601 (Apr. 29, 2016). The firm was expelled by FINRA on July 31, 2017 based upon allegations that it failed to pay the $41,083.03 fine.
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