Roderick Yzaguirre of Ontario California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on March where the customer alleged omission and misrepresentation in reference to unit investment trust transactions executed in the customer’s account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Yzaguirre has been identified in twenty-one additional customer initiated investment related disputes containing accusations of Yzaguirre’s misconduct during the time that he was employed by Merrill Lynch and Banc of America Investment Services, Inc. In particular, on March 16, 2015, a customer initiated investment related complaint that pertained to Yzaguirre’s conduct was settled for $401,989.43 in damages based upon allegations that Yzaguirre misappropriated the customer’s funds.
Another customer initiated investment related complaint concerning Yzaguirre’s activities was resolved for $1,180,806.37 in damages on May 6, 2015, supported by accusations that funds had been misappropriated from the customer between October of 2010 and February of 2015. Then, on July 28, 2015, another written complaint concerning Yzaguirre’s conduct was settled to resolve allegations of forgery.
Moreover, on August 18, 2015, a customer initiated investment related complaint regarding Yzaguirre’s activities was resolved for $17,000.00 in damages based upon accusations that Yzaguirre made false statements to the customer concerning the purchase of variable annuity products, and failed to make required tax withholdings upon making distributions from the customer’s account. On August 25, 2015, a customer initiated investment related complaint involving Yzaguirre’s activities was resolved for $1,295,230.00 in damages founded on accusations that the financial advisor misappropriated the customer’s investment funds.
Then, on September 15, 2016, a customer filed an investment related complaint involving Yzaguirre’s conduct in which the customer alleged that Yzaguirre falsely represented the customer’s income on the customer’s reverse mortgage application. On December 7, 2015, another customer initiated investment related complaint that pertained to Yzaguirre’s conduct was settled for $200,000.00 in damages based upon allegations including the unauthorized trading of unit investment trusts in the customer’s account and unsuitable investment recommendations having been made to the customer.
Moreover, Yzaguirre is the subject of a customer initiated investment related written complaint which was resolved for $2,477,624.64 on December 16, 2015 founded on accusations of misappropriation. Additionally, on December 12, 2016, a customer initiated investment related complaint regarding Yzaguirre’s conduct was settled for $57,621.00 in damages based upon allegations that the customer’s unit investment trust transaction had been misrepresented.
Yzaguirre’s registration with Merrill Lynch was terminated on March 2, 2015 while under suspicion of having misrepresented terms and conditions of securities transactions and misappropriating customer funds.
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