Securities Arbitration Lawyers BlogJupiter, Florida-based Wells Fargo Broker Roberto O. Bastardo Permanently Barred by FINRA
Silver Law Group is investigating former Jupiter, Florida-based Wells Fargo Advisors, LLC (CRD# 19616) broker Roberto O. Bastardo (CRD# 6570886) after Wells Fargo Advisors discharged him for allegedly attempting to misappropriate customer funds.
According to Bastardo’s FINRA BrokerCheck report, Wells Fargo Advisors discharged Bastardo in September 2016 for attempting to misappropriate over $185,000 from a Wells Fargo Advisors customer. The firm allegedly recovered all but $800 of the misappropriated funds, but authorities were contacted.
FINRA followed up the discharge by permanently barring Bastardo from acting as a broker or otherwise associating with firms that sell securities to the public in November 2016 after Bastardo failed to respond to a FINRA inquiry.
Bastardo had only been in the securities industry for a year but worked at Wells Fargo Bank since 2005 according to his detailed CRD report. Bastardo worked out of a Jupiter, Florida branch for both his time at Wells Fargo Bank and Wells Fargo Advisors.
Misappropriation of funds is the intentional, illegal use of funds of another person for one’s own use or other unauthorized purpose. It is a serious offense that warrants immediate action.
Contact Our Firm if You’ve Lost Money
FINRA arbitration is a fast, efficient way to recover your lost investment funds. We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.
If you have invested with Roberto O. Bastardo and Wells Fargo Advisors and have lost money doing so, you may be able to recover some or all of your losses. Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.