Walter Roland Valenzuela, of San Diego, California, a stockbroker formerly registered with Hilltop Securities Inc., is referenced in a customer initiated investment related written complaint on June 21, 2021, where the customer sought $15,334.00 in damages founded on accusations of misrepresentation relating to the liquidity of the customer’s investment in Bluerock Inc. Interval Fund during the time that Valenzuela was registered with Hilltop Securities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Valenzuela has been identified in thirteen additional customer initiated investment related disputes concerning allegations of Valenzuela’s misconduct during the period that he was registered with securities broker dealers, including ML Stern Co. LLC, Southwest Securities Inc., and Hilltop Securities. Valenzuela is identified in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages based upon accusations of financial exploitation, unsuitable margin use, excessive markups and markdowns, breach of fiduciary duty, and churning relating to UIT and municipal bond trades at Hilltop Securities.
On December 12, 2019, another customer filed an investment related complaint regarding Valenzuela’s conduct in which the customer requested $50,000.00 in damages supported by allegations of Valenzuela causing the customer’s losses on municipal and corporate bonds.
On August 27, 2020, a different customer initiated investment related complaint involving Valenzuela’s conduct was settled for $90,000.00 in damages founded on accusations of elder abuse and unsuitable recommendations by Valenzuela concerning the customer’s investments in unit investment trust and corporate bond products at Hilltop Securities. The claim also alleges that Valenzuela engaged in excessive trading and misrepresented information relating to the customer’s investments.
Valenzuela is also the subject of a customer initiated investment related complaint which was resolved for $625,000.00 in damages on August 27, 2020, based upon allegations of Valenzuela providing bad investment advice and effecting excessive trades, resulting in damages to the Hilltop Securities customer. According to the complaint, misrepresentations were made by Valenzuela concerning limited partnerships, business development companies, unit investment trusts, real estate securities, and corporate bonds.
Valenzuela is referenced in another customer initiated investment related written complaint which was settled for $87,000.00 on December 28, 2020, supported by accusations of Valenzuela failing to disclose the risks pertaining to a Chesapeake bond and Invesco Steelpath mutual fund.
On January 5, 2021, an additional customer initiated investment related complaint concerning Valenzuela’s activities was resolved for $88,000.00 in damages founded on allegations of misrepresented information concerning collateralized mortgage obligations, real estate securities, mutual funds, and stocks held in the customer’s account at Hilltop Securities. The complaint alleges that Valenzuela caused the customer’s account to poorly perform.
Valenzuela is also identified in a customer initiated investment related written complaint on March 18, 2021, where the customer sought $280,000.00 in damages based upon accusations of unsuitable investment recommendations by Valenzuela at Hilltop Securities. The customer was led to believe that they would be investing in guaranteed municipal bonds.