Securities Arbitration Lawyers BlogNew York City-based Broker Permanently Barred by FINRA; Allegation of VGTel Sale
Rafael Santiago (CRD# 2494647) of New York, New York firm Primary Capital, LLC (CRD# 127921) is under investigation after being barred from the securities industry in April 2016.
Santiago, according to his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report was barred by FINRA after he failed to respond to FINRA’s request for information. Besides that misconduct disclosure on his FINRA BrokerCheck report, he has two other misconduct disclosures.
Santiago has a FINRA arbitration complaint pending where the claimant alleges $495,000 in losses. The complaint, filed in September 2015, according to the BrokerCheck report involve the notorious VGTel stock and Santiago’s involvement with VGTel promotion.