Angel Edgardo Aquino-Velez of Miami Florida a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations that between 2011 and 2017, closed-end fund and municipal debt transactions were executed in the customer’s account that were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00230 (Jan. 17, 2019).
FINRA Public Disclosure confirms that Aquino-Velez is referenced in twenty-two more customer initiated investment related disputes concerning allegations of his wrongful activities during the time that he was associated with Morgan Stanley and UBS. Particularly, on February 5, 2001, a customer filed an investment related complaint regarding Aquino-Velez’s activities in which the customer sought $35,000.00 in damages supported by accusations that unauthorized over-the-counter equities transactions were placed in the customer’s account.
Another customer initiated investment related arbitration claim concerning Aquino-Velez’s activities was settled for $80,000.00 in damages based upon allegations that Aquino-Velez made reckless recommendations to the customer concerning investments in high-risk closed end funds. FINRA Arbitration No. 14-01065 (Dec. 29, 2016). Subsequently, a customer initiated investment related arbitration claim concerning Aquino-Velez’s conduct was resolved for $400,000.00 in damages founded on accusations that unsuitable investment recommendations had been made to the customer, and the customer’s investment account was over-concentrated in municipal debt products that were not appropriate for the customer. FINRA Arbitration No. 15-01923 (Mar. 3, 2017).
Moreover, a customer initiated investment related arbitration claim regarding Aquino-Velez’s activities was settled for $1,875,000.00 in damages supported by allegations of misrepresentations and unsuitable municipal bond trades being made in the customer’s investment account between 2012 and 2015. FINRA Arbitration No. 15-02874 Apr. 25, 2017). Thereafter, a customer initiated investment related arbitration claim involving Aquino-Velez’s conduct was resolved for $80,000.00 in damages based upon accusations that the customer was placed in unsuitable Puerto Rico closed-end funds. FINRA Arbitration No. 16-01945 (Jan. 10, 2017).
Thereafter, on October 13, 2017, a customer filed an investment related arbitration claim concerning Aquino-Velez’s conduct where the customer requested $5,000,000.00 in damages founded on allegations that between 2010 and 2017, closed end funds and municipal-debt products held in the customer’s account were not suitable for the customer. FINRA Arbitration No. 17-02590 (Oct. 13, 2017).
Furthermore, a customer initiated investment related arbitration claim regarding Aquino-Velez’s activities was settled for $220,663.36 in damages supported by accusations that between July of 2013 and May of 2017, the customer was inappropriately placed in closed end funds and municipal debt products. FINRA Arbitration No. 18-01760 (May 7, 2018). Additionally, a customer initiated investment related arbitration claim involving Aquino-Velez’s conduct was resolved for $2,690,000.00 in damages based upon allegations that between 2012 and 2015, transactions were effected in the customer’s account that were in no way suitable for the customer. FINRA Arbitration No. 16-03635 (June 1, 2018).
Aquino-Velez’s registration with Morgan Stanley was terminated on July 13, 2017.
