Investors Sue Investors Capital For Bad REIT Recommendations
Roberto Alexandro Blanco of El Paso Texas a stockbroker formerly employed by Investors Capital Corporation is the subject of a customer initiated investment related written complaint which settled for $43,000.00 in damages on February 2, 2018 based upon accusations that (1) Blanco placed the customer in real estate security investments that were not appropriate for the customer given the customer’s needs for liquidity and (2) Blanco omitted information concerning the terms and conditions of the American Capital Reality Hospital Trust purchased by the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on October 15, 2007, a customer filed an investment related complaint involving Blanco’s conduct in which the customer requested unspecified damages supported by allegations that while Blanco was registered with NYLife Securities LLC, false or misleading statements had been made concerning a variable annuity purchased by the customer, causing the customer to incur investment losses.
Blanco’s registration with Investors Capital Corp. has been terminated as of May 3, 2016. Since April 15, 2016, he has been employed by M Holdings Securities Inc.