Mariondy Fernandez, of Dorchester, Massachusetts, a stockbroker formerly registered with Santander Securities LLC, has been identified in a customer initiated investment related arbitration claim on October 4, 2016, where the customer requested $4,000,000.00 in damages based upon allegations against Fernandez of breach of contract and fiduciary obligations, negligence, over-concentration of customer assets, unsuitability, and fraud in regard to closed-end funds and municipal debt transactions effected in the customer’s investment portfolio.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that she has been identified in nine more customer initiated investment related disputes containing allegations of her wrongdoing while employed with Santander Securities, LLC. Particularly, on May 15, 2015, a customer initiated investment related written complaint involving Fernandez’s conduct was settled for $300,000.00 in damages founded upon allegations against Fernandez including, inter alia, having committed fraudulent sales practice violations in reference to Fernandez’s activities in the customer’s investment portfolio. The customer further alleged that Santander Securities LLC failed to supervise Fernandez.
Between February 4, 2016, and January 23, 2017, four customer disputes were resolved for $675,500.00 in damages based upon allegations that Fernandez recklessly handled the customers’ investment accounts, breached her fiduciary and contractual obligations to the customers, and committed fraud pertaining to closed-end funds and municipal bond investment transactions effected in customers’ accounts. From September 15, 2015, to October 4, 2016, six customer initiated investment related disputes were pursued, wherein customers’ claims were based on Fernandez’s fraudulent activities in their investment accounts.
Fernandez’s registration with Santander Securities LLC has been terminated as of February 17, 2016.
Guiliano Law Group
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