Investors Sue Oppenheimer For Securities Fraud
Cesar Augusto Hurtado of Miami Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages based upon allegations that (1) unfounded statements had been made to the customer concerning energy sector equities and options (2) the customer’s account was handled in a negligent manner (3) an investment contract had been breached (4) fiduciary obligations were not complied with and (5) a fraud had been committed as a result of the transactions executed in the customer’s account during the period in which Hurtado was associated with Oppenheimer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02292 (Aug. 13, 2019).
This is not the first time that Hurtado has been subject of a customer dispute. In fact, FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim involving Hurtado’s activities was resolved for $285,000.00 in damages supported by accusations that when Hurtado was employed by Oppenheimer, the customer’s account was mismanaged; transactions were negligently executed; fiduciary duties which had been owed to the customer were violated; false or misleading statements were made to the customer about investments; and fraudulent activities affecting the customer’s account between 2003 and 2017 resulted in the customer sustaining unwarranted losses. FINRA Arbitration No. 17-02580 (Sept. 28, 2017).
Hurtado has been registered with Oppenheimer Co. Inc. since January 3, 2003.