FINRA Bans Broker Ramon Herrera

Ramon Arturo Herrera (CRD #6021170) is a former registered broker and investment advisor, barred by FINRA. His last registered employer was Wells Fargo Clearing Services, LLC (CRD #19616) of Union City, NJ.

A customer dispute was filed by a client’s POA on 01/13/2018. The POA alleged that from 04/17/2018 through 11/17/2018, one of two financial advisors assigned to her conducted excess trading and made and an unauthorized withdrawal of $75,010 from her personal savings account. The FA in question was not named in the complaint. The case was settled for $105,000.

The next customer dispute was filed on 04/04/2018, alleging that Herrera withdrew funds from multiple client accounts without their permission. That case is pending, and the requested damages total $20,000.

After these two customer disputes were filed, and a failure to provide requested information, FINRA barred Herrera indefinitely from any association with any FINRA member. Two letters were issued, on 04/11/2018, and 05/07/2018, respectively. Herrera failed to respond to the information request, nor request suspension of his bar, so it was made permanent on 07/16/2018.

Herrera’s only previous disclosure was a bankruptcy that was discharged on 10/201/2010.

Silver Law Group represents investors in securities and investment fraud cases. We have handled multiple securities arbitration claims against Wells Fargo.  Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct.  Most cases handled on a contingent fee basis. This means that you won’t pay legal fees unless we are successful. Call us toll free at 800-975-4345, or use our online contact form to get in touch.