Manuel Jose Leon Jr., a Registered Principal with Investors Capital Corp. has been found to have committed several violations by FINRA relating to the recommendation and sale of private securities through a company he formed to look like an independent branch of a broker-dealer. FINRA found that Leon did not properly notify his member firm that he was engaged in the sale of a private placement. He also did not have reasonable grounds to believe that the recommended private investment in the company was suitable and even recommended the investment to a retired couple of limited means. Leon recommended and allowed the couple to invest most of their investable assets, which amounted to $167,000.00 solely in the private placement investment resulting in over concentration in their portfolio. Prior to the dissolution of the investment, the company made interest and principal payments totaling some $26,000.00 to the couple, leaving them with a $141,000.00 loss. As a result of Leon failing to respond completely to FINRA requests for information and documents he has been barred from the industry.
If you have suffered losses investing any Manuel Jose Leon Jr. or Investors Capital Corporation, please contact Eccleston Law Offices to discuss your recovery options at (312) 332-0000.
Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.
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